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