Consumption Financial News

Diesel sales in India fell for the second straight month in September as rains dampened demand and slowed industrial activity in some parts of the country, preliminary data of state-owned firms showed. While diesel sales by three state-owned fuel retailers fell year-on-year in the first half of September, petrol sales were up marginally. Consumption of diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 5.8 per cent to 2.72 million tonnes between September 1 and 15, compared to the year-ago period. Consumption had fallen by a similar proportion in the first half of August. Month-on-month sales were up 0.9 per cent, when compared with 2.7 million tonnes of diesel consumed in the first half of August.

China to boost weak domestic consumption, address its troubled real estate sector and rein in local government debt, problems that are dragging down both Chinese and global growth, IMF Managing Director Kristalina Georgieva told Reuters. Georgieva said in an exclusive interview the messages will be delivered to Chinese authorities in a forthcoming IMF «Article IV» review of China's economic policies. The Fund will strongly urge Beijing to shift its growth model away from debt-fueled infrastructure investment and real estate, she said. «Our advice to China is use your policy space in a way that helps you shift your growth model towards more domestic consumption,» Georgieva said. «Because the traditional way of infrastructure, pumping in more money, in this current environment is not going to be productive.» China's aging population and falling productivity were playing a «suppressing role» in its growth rate, along with companies in the United States and Europe shifting supply chains away from China. China's problems in the real estate sector have also caused consumers to rein in spending, Georgieva said. «We actually project that without structural reforms, medium term growth in China can fall below 4%,» Georgieva said.

By Andrea Shalal and David Lawder

The recent launch of ‘Credit line on UPI’ by NPCI is a pivotal point in India’s credit journey, one that will give rise to several fintechs. In essence, Credit line on UPI is set to become what Debit Card EMI aspired to be, and more.

Phoenix Mills Ltd is poised to benefit from a combination of favourable factors. Subsiding monsoon, long weekends and upcoming festival season are seen as near-term drivers for urban consumption at malls. This should aid healthy ramp up at the company’s Citadel Indore and Palladium Ahmedabad malls, which were opened in FY23.

The Bitcoin Electricity Consumption Index (CBECI), developed by researchers at Cambridge University’s Centre for Alternative Finance (CCAF), has been upgraded to reveal new information about Bitcoin mining’s global energy consumption.

agriculture sector downwards, SBI Caps said in the report. "Further, private consumption expenditure’s share has marginally dipped. The risk here stems from rural consumption," it said.

Researchers behind the well-known Cambridge Bitcoin Electricity Consumption Index (CBECI) have officially revised its methodology to enhance the accuracy and reliability of the Index’s estimates for the first time since its inception in 2019.

₹17,000 crore for the production of green hydrogen and the manufacturing of electrolyzers. The minister said that manufacturing capacity of 5.8 million tonne green hydrogen is already in different stages of installation in the country and the "low cost" of renewable energy in India would lead to production of the cheapest green hydrogen globally.

inflation impacts discretionary spends of the middle-class even as there is an uptick in the spends by upper middle class consumers on premium cars, home renovation, real estate purchases, travel, hotels, tech goods. Inflation has impacted the middle-class consumer's buying power for small cars, and yet there is a long waiting period for high-end cars in 2023, say carmakers. «We might see some transitory loss in consumption due to high food inflation, but this will reverse soon as food inflation subsides as fresh kharif harvest hits the market,» said R Dinesh, president, CII and vice-chairman, TVS Supply Chain Solutions.

According to Cointelegraph, Ethereum gas consumed by non-fungible tokens (NFTs) dropped significantly after it saw an increase in its rate in 2021.  It is expected that the NFT marketplaces and projects which had occupied top spots in gas consumption earlier saw a decline in the past two years.

PTI quoting wholesale traders, tomatoes are currently selling at a rate of more than ₹200 a kilo and its prices are likely to touch ₹300 per kilogram in the coming days. By forgoing tomato consumption in his own residence, the governor aims to underscore the importance of empathy, frugality, and responsible use of resources during these challenging times, said the release.

New Delhi: Stainless steel consumption in India grew by nearly 10% during the past fiscal year, reaching 4 million tonne, as per data unveiled by the Indian Stainless Steel Development Association (ISSDA). Data released by the industry body indicates that India's per capita stainless steel consumption advanced from 2.5 kg to 2.8 kg, driven by heightened demand for the eco-friendly metal in sectors such as Railways, process industries, and ABC (architecture, building and construction).

New Delhi: Gasoline consumption increased 19.7% during the June quarter compared to the same period of last year to a provisional assessment of 9.377 million tonne, minister of state in the ministry of petroleum and natural gas Rameswar Teli said. In a written reply in the Lok Sabha, the minister said, to meet the growing energy demands, Indian refineries presently have a refining capacity of 253.9 million tonnes per annum (MTPA).

BEIJING — Instead of handing out cash, China is trying to make sure consumers and businesses spend where it matters economically.

power consumption grew by 8.4 per cent to 139 billion units in July this year compared to the same month last year. In the year-ago period, power consumption stood at 128.25 billion units (BU), higher than 123.72 BU in July 2021, according to the government data. The peak power demand met, which is the highest supply in a day, rose to 208.82 GW in July 2023.

BEIJING (Reuters) — China's State Council on Monday issued measures to restore and expand consumption in the automobile, real estate and services sector, aiming to give full play to the «fundamental role» of consumption in economic development.

New Delhi: Nuclear families made up 50% of Indian households in 2022, up from 34% in 2008, a development that marks a significant shift in the way Indian families inhabit large and small cities. This shift in family structure has a bearing on future consumption as nuclear families outspend joint families and experiment with more premium products, researcher Kantar Worldpanel said in a report. Nuclear families are better educated with 80% having some level of education.

New Delhi: Consumption of petroleum products in India during April-June rose 4.9% year-on-year (YoY) to 58.8 million metric tonne.  Data from Petroleum Planning and Analysis Cell (PPAC) showed that the growth was led by a 13.4% growth in jet fuel consumption, followed by an 8.1% increase in diesel use and 6.8% rise in petrol usage. A total of 2 million metric tonne (MMT) aviation turbine fuel (ATF) was consumed during the first quarter of this fiscal, against 1.7 million metric tonne a year ago. Diesel and petrol consumption stood at 23.9 MMT and 9.4 MMT, respectively, during the quarter under review, compared to 22.2 MMT and 8.8 MMT, respectively, a year ago.

Power consumption grew marginally by 1.8 per cent year-on-year to 407.76 billion units in the April-June quarter, mainly due to unseasonal rains, the Biparjoy cyclone and heavy Monsoon downpours, according to the government data. The Central Electricity Authority (CEA) data showed that the power consumption was 400.44 billion units (BU) in the April-June quarter in 2022 and recorded a growth of 17.6 per cent compared to 340.37 BU in the same period of 2021. The peak power demand rose to 223.23 GW in April-June 2023 from 215.88 GW in the same period in 2022.

One of the biggest worries of a parent is to make their kids eat nutritious and healthy meals that help them to grow. However, Kids often get fussy and demand junk food with unhealthy fats and added sugars. They also increase children's chances of developing childhood obesity which causes multiple risk factors for many health complications in later life.