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