Economic activity shows record expansion, business resumption near pre-pandemic level

9th Aug,2021

Economic activity shows record expansion, business resumption near pre-pandemic level


Following a brief pause, mobility accelerated, with the Google workplace, shopping and recreation, and Apple driving indexes growing by 7.4%, 5.3 percentage points, and 6.7 percentage points, respectively, according to the latest statistics. According to statistics issued on Monday, the highly watched Nomura India Business Resumption Index (NIBRI) jumped to 99.4, up from 94.0 the previous week, owing to the Covid-19 cases being under control and increased mobility of individuals. In a note, research analyst Sonal Varma stated, “This indicator is nearing the pre-pandemic threshold of 100, and approaching the pre-second-wave peak (of 99.3 in mid-February).” The data for the Nomura India Business Resumption Index comes from a variety of sources, including Google, Apple's driving index, and energy usage. Because they vary often, these are referred to as high-frequency data. Following a brief pause, mobility surged, with the Google workplace, shopping and recreation, and Apple driving indexes jumping by 7.4%, 5.3 percentage points, and 6.7 percentage points, respectively, according to the latest statistics. A basis point is one-hundredth of a percentage point, while a percentage point is one-hundredth of a percentage point. Electricity usage is a good predictor of how fast the economy is moving. Power demand increased 5.3 percent week over week, according to the Nomura index, after declining for three weeks in a row.