According to a Japanese brokerage firm, corporate resumption activities continued to move north, reaching new highs well above pre-pandemic levels for the week ending August 29.
According to a securities firm, the Nomura India Business Resumption Index rose from 101.3 last week to 102.7 in the week ending August 29.
Comparing business activity to pre-pandemic levels in March 2020, the index plummeted between two waves of infections with blockades.
According to Nomura, the index rose 5.6 points (pp) in August 2021 to 17.1 pp in July and 15 pp in June.
In the week ending August 29, Google’s retail and recreation and Apple’s driving index rose 0.6 pp and 10 pp, respectively, while workplace mobility fell surprisingly 3.7 pp.
Demand for electricity increased by 0.1% compared to the previous week, but labor force participation increased from 40% to 40.8%.
However, news about the new infection is mixed, pointing out that although the exacerbation was led by the state of Kerala, the 7-day moving average (MA) of cases increased by 9,200 from last week to 41,000. It warned that a potential third wave “cannot be ruled out” given the imminent festive season.
Meanwhile, the pace of vaccination has risen from 4.7 million a week ago to 7.1 million per day (7-day MA), and if this pace is maintained, India will have about 50 full vaccinations per day. He added that he plans to give a vaccination. Population cents by the end of 2021.
According to securities firms, GDP growth will gradually recover in the September quarter, maintaining the forecast of 10.4% GDP growth, which exceeds the 2010 consensus.