India’s Economic Recovery Holds Up On Balance Despite Some Wobble, Says Nirmal Bang
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Nirmal Bang Report
In the second fortnight of December 2020, economic recovery sustained on balance despite some signs of wobbling.
Google mobility indicators witnessed some slack, particularly workplace movements and public transport.
Movement for essential services improved further into positive territory while the movement for retail and recreation also witnessed slight improvement even as it remains far below pre-Covid-19 levels. Rural activity continues to hold up.
Unemployment in both urban and rural areas continued to rise from the previous fortnight. Urban unemployment stood at 8.84% and rural unemployment at 9.15%.
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