Economic activity is slowing down after phase of quick recovery, Nomura data shows

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Economic activity is slowing down after phase of quick recovery, Nomura data shows


While retail and recreational mobility continued to improve along with the Apple driving index, workplace mobility largely stagnated

Economic activity softened in the week ended October 11 compared to a week earlier amid a downward revision of India’s recovery trajectory due to revised Google mobility data, according to a Nomura note on Tuesday.

The latest reading of Nomura India Business Resumption Index (NIBRI), which monitors high frequency indicators of normalisation, softened to 80.9 after a reading of 81.6 for the week ended October 4.

The index has recorded a downtrend after a post-lockdown high of 82.3 in mid-September. The tracker was at 82.9 in the week ended March 22 before a drastic fall to 44.7 in April.

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