Private consumption growth during the quarter surged to a 2-year high of 7.4% as against 4% in the previous quarter and 5.5% in the year-ago period. Private final consumption expenditure accounted for 56.3% of GDP in the first quarter of FY25 as against 55.9% in the same quarter a year ago.
The strong growth in consumption in Q1 was seen despite an uneven monsoon and intense heat wave. As per experts, pick up in the rural demands as well as moderation in retail inflation might have worked in favour of private consumption during the period.
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