Mumbai: The business assumption activity continues the north and reaches new high, far above the pre-pandemic level for the week ended August 29, said a Japanese broker on Monday.
The Indian Nomura business ruling index rose to 102.7 for the week ended August 29 of 101.3 in the previous week, according to the broker.
The index, which compares business activities with pre-pandemic levels in March 2020, has fallen steeply for two waves of infection, which is accompanied by locking.
Nomura said the index increased 5.6 percentage points (PP) in August 2021, after 17.1 pp in July and 15 pp in June.
For the week ending August 29, Google Retail and recreation and the Apple driving index rose 0.6 pp and 10 pp, although the workplace mobility was surprisingly down 3.7 pp.
Power demand rose 0.1 percent compared to the previous week, while labor participation rates edged up to 40.8 percent from 40 percent.
However, there was a series of mixed news about new infections, he said, showing that the average moving 7 days (MA) case rose 9,200 from last week to 41,000, although this setback was led by Kerala.
It warns that the third wave potential “cannot be ruled” considering the future celebration season.
On the other hand, vaccination speed has increased to 7.1 million doses per day (MA 7 days) of 4.7 million per week back, he said, adding that if this step survives, India will be on track to fully vaccinate around 50 per .
Sen population at the end of 2021.
GDP growth in sequence will rebound in the September quarter, the broker said, maintaining the estimated GDP growth above the consensus at 10.4 percent in FY22.