NEW DELHI: India’s economic activity showed signs of beginning to cool off in April as several states resorted to lockdowns to control a deadly second wave of the coronavirus.
Although the three-month weighted average scores of eight indicators tracked by Bloomberg News showed the pace of activity was unchanged from March, the single month reading pointed to weakness setting in.
Even more recent data from this month confirmed the softening trend in activity. A basket of high-frequency, alternative and market indicators such as retail activity and road congestion pointed to weakness in the week to May 16, Abhishek Gupta, India economist at Bloomberg Economics, said in a report.
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Marked rise in Indian services activity: IHS Markit ANI | Updated: May 05, 2021 13:48 IST
New Delhi [India], May 5 (ANI): The Indian service sector remained resilient to the escalation of Covid-19 crisis with a further solid increase in new work supporting output expansion, according to the latest IHS Markit Services Purchasing Managers Index (PMI) released on Wednesday.
Still, panel member reports suggested that the rise in business activity was constrained by the pandemic and sentiment towards growth prospects faded.
Meanwhile, service providers noted the steepest rise in overall expenses since December 2011. Charges increased only slightly, however, as firms sought to boost sales.
India Was On Recovery Path Just Before Second Wave Derailed Progress India Was On Recovery Path Just Before Second Wave Derailed Progress Fresh activity curbs amid the world s worst Covid-19 outbreak in India merit a real-time reading of the economy using other indicators.
Activity in India s dominant services sector moderated in March after expanding the previous month
Economic activity in India picked up speed last month, signaling it was well on the road to recovery before a new wave of coronavirus infections derailed progress. The needle on a dial measuring so-called animal spirits moved a notch higher for the first time in six months in March, based on the three-month weighted average numbers of eight high-frequency indicators tracked by Bloomberg News.
Indian economy was well on the road to recovery before new virus wave hit
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Indian economy was well on the road to recovery before new virus wave hitBy Anirban Nag, Bloomberg
Last Updated: Apr 30, 2021, 07:12 AM IST
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Passenger vehicle sales more than doubled from a year ago, rising to 291,000 units in March, according to SIAM data. Two-wheeler sales were at 1.5 million units, compared with 867,000 last year.
3,726,458.0
Economic activity in India picked up speed last month, signaling it was well on the road to recovery before a new wave of coronavirus infections derailed progress.
The needle on a dial measuring so-called animal spirits moved a notch higher for the first time in six months in March, based on the three-month weighted average numbers of eight high-frequency indicators tracked by Bloomberg News.