Economic activity hits fresh post-COVID high: Nomura
The Hindu
Labour participation rate improved to 40.5%, index shows
Economic activity in India was almost 15% above pre-pandemic levels last week, Nomura said, based on its India Business Resumption Index which tracks post-pandemic momentum in the economy.
The index hit a fresh high of 114.5 in the week ending November 28, with mobility returning to almost pre-pandemic levels, Nomura research analysts Sonal Varma and Aurodeep Nandi said in a note on the latest print of the metric that considers February 23, 2020 as the base date for measuring post-COVID-19 activity.
In the previous week, the Index stood at 113.4. “Google workplace and retail & recreation mobility rose by 3.6 percentage points and 1.6 percentage points, respectively, while the Apple driving index eased marginally by 0.5pp. The labour participation rate improved to 40.5% from 39.8% in the prior week, while power demand recovered by 1.2% week-on-week from 0.2% previously,” they said in the note.
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