New Delhi, November 30
After the Covid pandemic-led contraction in consumer spending this year, household spending will return to growth in 2021, expanding by as much as 6.6 per cent, Fitch Solutions said on Monday.
Consumer spending is forecast to have contracted by 12.6 per cent in 2020. “While growth will return to positive in 2021, we do note the recovery will be slower than most countries, as a result of the significant contraction over 2020,” according to Fitch Solutions forecast. — PTI