Economy Update - Sequential Slowdown Accelerates, YoY Growth Lower On Stringent Lockdowns In May: Nirmal Bang

Vendors prepare to close-up a mobile accessories store during lockdown restrictions in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Economy Update - Sequential Slowdown Accelerates, YoY Growth Lower On Stringent Lockdowns In May: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Nirmal Bang Report

Early data for May 2021 indicate that only 63.6% of indicators were in the positive territory, down from 89.3% in April 2021.

Final data for April indicate that only 84.4% of indicators were in the positive territory.

On a sequential basis, the slowdown accelerated, with only 30.3% of indicators in the positive territory in May, down from 39.4% as per early data for April.

However, final data for April suggest that only 32% of indicators were in the positive territory.

Overall, rural activity has been relatively resilient. Nevertheless, when compared to the first wave, there has been a dent in consumer sentiment.

Click on the attachment to read the full report:

Nirmal Bang India Macro Meter- Economy Update-29 June 2021.pdf

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