Expenditure on non-essential items declined in February- Survey

Expenditure on non-essential items declined in February- Survey

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new Delhi. A recent survey named Consumer Sentiment Index (CSI) of Axis My India has shown an increase in the expenditure on essential goods by urban and rural households of the country. At the same time, the expenditure on non-essential goods has come down. According to the survey report, in the month of February, people have spent more on household products, essential products and health products.

The Sentiment Index monitors five sub-indices – overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits and mobility trends.

This fall in the sentiment has come due to the reduction in expenditure on both essential and non-essential categories of goods for the last three months. Axis My India said in its report, the total household expenditure of 54% households increased in February, which shows a growth of 1% as compared to the previous month. It said that this increase has been recorded in the part of eastern India.

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Spending on essential products such as personal care and household items increased by 43% of households, similar to January’s level. This increase was prominently observed in the western part of India. However, the expenditure on essential items remained the same for 38% of the households.

The opinion of 10,151 people has been taken for this survey named Consumer Sentiment Index (CSI). Of these, 70 per cent were from rural background, while 30 per cent were from urban areas. In addition, 63% of the participants were male while 37% were female. Axis My India conducts this survey every month.

Meanwhile, spending on non-essential products such as air conditioners, cars and refrigerators saw an increase in 8% of households. Which shows a slight decline of 2% from the previous month. Additionally, 90% of the households surveyed said that they are spending on vacations, mall and restaurant visits. Increased travel is seen in only 5% of households while 5% reported reduced mobility.

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