We were left wondering from whose A$$ the 7% Q3 FY16-17 growth numbers in GDP were pulled out of. And the driver being a 10.1% growth in private consumption expenditure compared to same period of 2015. A good bunch of businesses cutting across sectors saw a sharp sales slowdown just like us. A look at our sales over the past 7 months gives a pretty clear picture on the brake slamming that has happened starting Nov 8th.
Three months of under-utilization of assets and missed targets is what we have had. A 28% & 11% shrinkage MoM when we look at the November and December numbers before things started pulling back again. And mind you, the first and last qtr of the year are actually the peak in terms of our business seasonality.
All we can say - One more commendable joomla painted successfully by the government.