Nirmal Bang: India’s Economic Activity Rebounds, But Remain Cautious On Sustained Improvement
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Nirmal Bang Report
Early data for September 2020 indicate that 57.6% indicators were in the positive territory, up from the 42.2% suggested by the early indicators in August 2020.
Final data for August 2020 suggest that 34.69% indicators were in the positive territory, same as in July.
The rebound in economic activity is encouraging, but we believe that it is a reflection of normalisation of supply chains, pent-up demand and the start of the festive season.
We would therefore be cautious on the sharp rebound, although we anticipate a gradual recovery going forward.
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