Nirmal Bang: India Covid-19 Recovery Continues, But Moving In Slow Lane

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.In the second fortnight of August, the recovery continued, but it is now moving in the slow lane.The New Delhi traffic congestion index is back to pre-covid levels. However, google mobility data as of August 30, 2020 from across the country is pointing to sluggishness in the recovery, probably on account of weekend lockdowns imposed in various states.The improvement in unemployment rates is also now leveling off. In fact, there has been a marginal rise in unemployment in both urban and rural areas.Data also suggests lower number of jobs created under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), which is partially indicative of the fact that urban jobs may be returning.In other data, the Markit manufacturing Purchasing Managers’ Index (PMI) is back in the expansion territory at 52 in August while the services PMI although improving still remains in the contraction territory at 41.8.Automobile sales, at least at the wholesale level, picked up in August, with rural and semiurban demand leading the recovery.Overall, electricity demand is estimated to have picked up in August, although electricity generation in the second fortnight of August was below the levels seen in the second fortnight of July.E-way bills generated improved from the previous fortnight, but for the month of August as a whole were below levels seen in July.Meanwhile, bank credit growth remains sluggish at 5.5% levels.The number of active Covid-19 cases and deaths continue to rise, with the only solace being some slowdown in the pace of increase in active Covid cases. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Nirmal Bang: India Covid-19 Recovery Continues, But Moving In Slow Lane

Nirmal Bang: India Covid-19 Recovery Continues, But Moving In Slow Lane

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