After briefly tray, the mobility fell sharply, with Google Workplace, detail and recreation and apple driving index increase of 7.4 percentage points, 5.3 percentage points and 6.7 percentage points, respectively , the latest data have shown.
Economic activity has shown record expansion in the week ending on 8 August, according to the Fund Recovery Index Nomura in India (Nibri) (Nibri), which climbed to 99 , 4, up 94.0 last week, mainly because of COVID-19 cases remaining under the supervision and the higher mobility of people, depending on the data published on Monday.
“This index is close to the pre-pandemic level of 100 and exceeds the peak before second wave (from 99.3 to mid-February),” said Sonal Varma Sonal Varma in a note.
The Nomura India business recovery index is compiled with data from various followers, such as Google, the Apple Driving Index and the demand for electricity. These are called high frequency data because they change frequently.
After briefly on the tray, the mobility has resumed sharply, with Google Workplace, Retailer and Recreation and Apple Conduct Index increasing 7.4 percentage points, 5.3 percentage points and 6.7 percentage points , respectively, the latest data shown. A percentage point is equal to a point of 100 basis points, while a base point is a hundredth of percentage point.
Electricity consumption is a key indicator of the rhythm of economic activity. According to the Nomura Index, the power demand increased by 5.3% week the week after narrowing for three consecutive weeks.
The labor force participation rate reached 41.5% of 39.8% earlier. This means that more people are looking for jobs, which pushed the unemployment rate at 8.1%.
The business recovery index fell in part because cases of coronavirus disease remain flat at 40,000 per day, “said Nomura, a securities company said.
With nearly 5 million doses of vaccination daily, the “rhythm of vaccination is greater than the daily rate of 3.9 million in June,” said.
However, these data vary considerably in all states and states such as Karnataka and Tamil Nadu have increased restriction, while Maharashtra has announced additional relaxation.
“Overall, the last increase in the Nibri has corrected its plateau since mid-July and suggests that Swifter and expected recovery of the second wave continued at the beginning of August. If the thrust of mobility, in turn, triggers a third wave is an essential risk that we continue to monitor, “Varma said.