India Economy Update- Sequential Momentum Slows Sharply, But Localised Lockdowns Less Stringent: Nirmal Bang
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Nirmal Bang Report
Early data for April 2021 indicate that 86.2% of indicators are in the positive territory, up from 78.8% in March 2021.
Final data for March 2021 indicate that 81.3% of indicators were in the positive territory.
However, YoY data masks a sharp sequential slowdown and also suggest that localised lockdowns in 2021 are a lot less stringent than the nationwide lockdown in 2020.
On a month-on-month basis, only 39.4% of indicators are in the positive territory and stand at the lowest level since April 2020.
Despite spread of Covid-19 into rural areas, overall rural activity seems to be resilient.
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