With reference to Economic Survey 2022-23, consider the following statements:

1. Private Consumption as a percentage of GDP stood at 58.4 per cent in Q2 of FY23, the highest among the second quarters of all the years since 2013-14

2. A rebound in contact-intensive services such as trade, hotel and transport, which registered sequential growth of 16 per cent in real terms in Q2 of FY23 compared to the previous quarter.

Which of the above statements is/are correct?

1
 1 only
2
2 only
3
Both 1 and 2
4
More than one of the above
5
None of the above

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