Indian Economy - Gradual Unlock Spurs Incomplete Recovery In June: ICRA

Customers sit outside a store preparing to close-up a store during lockdown restrictions in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Indian Economy - Gradual Unlock Spurs Incomplete Recovery In June: ICRA


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.

ICRA Research Report

As expected, base normalisation led to a flattening of the year-on-year expansion of most high frequency indicators in June 2021, relative to the previous month.

However, several indicators recorded a sequential improvement in June 2021, as the states started lifting restrictions with the subsiding of the second wave of Covid-19.

While a revival has undoubtedly set in, volumes for most non-financial indicators in June 2021 were weaker than the levels in both April 2021 and June 2019, suggesting that the recovery is incomplete.

Moreover, 11 of the 14 indicators reported lower volumes in Q1 FY22 compared to Q1 FY20.

Click on the attachment to read the full report:

ICRA Month in Review June 2021.pdf


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