INDIA’S CONSUMER SPENDING DOWN

India’s GDP grew 8.4 percent during the three months ending 30 September, The Wall Street Journal reported, compared with the same period in 2020.
Although the nation’s economy is recovering from the COVID lockdown, job losses during the shutdown are hobbling consumer spending and creating a drag on economic growth, the WSJ noted.
TRENDPOST: The country’s festival season began in September, which will spur spending, but the number of people without work will continue to slow India’s return to pre-COVID strength. And should the COVID War 2.0 rage through India and Asia, economic conditions will continue to decline.