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India’s Economic Recovery Sustains Despite Some Signs Of Fatigue, Says Nirmal Bang

India’s Economic Recovery Sustains Despite Some Signs Of Fatigue, Says Nirmal Bang

Pedestrians wait to cross an intersection at Mahatma Gandhi Road in Bangalore, India (Photographer Sanjit Das/Bloomberg)
Pedestrians wait to cross an intersection at Mahatma Gandhi Road in Bangalore, India (Photographer Sanjit Das/Bloomberg)

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 November 2020 indicate that 63.64% of indicators were in the positive territory, up from 57.6% in October 2020.

Final data for Oct-20 suggest that 65.31% indicators were in the positive territory. Despite some signs of fatigue, economic recovery has largely held up in Nov-20.

Rural demand continues to hold up and Rabi sowing is up 4.9% YoY. Currency in circulation was up 22.2% YoY in Nov-20 while rural unemployment dipped to 6.3% in Nov-20 from 6.9% in Oct-20.

Tractor sales were up 51.3% YoY in Nov-20 and two-wheeler sales were up 13.4% YoY although the pace slowed from 16.9% in Oct-20.

Click on the attachment to read the full report:

Nirmal Bang India Macro Meter- Economy Update-23 December 2020.pdf

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