New Delhi, November 13, 2017: ‘The aftermath of demonetization lasted till the first quarter of 2017. The consumer durable industry de-grew by 40% in November and 15% in December of 2016 and by 3% in January 2017. There was no growth recorded for the months of February and March but sales picked up in the month of April 2017. However, the recovery of the demand for consumer durables from the effects of demonetization must to be discussed in conjunction with the impact of GST, which started to trickle in since May ‘17. We saw a boom in sales pre – GST implementation, riding on the offers levied by retailers, followed by a lull post the implementation. The industry has since recovered, witnessing marginal growth during the festive season, though short of our expectations.’
Corporate Comm India(CCI Newswire)
