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NIBRI registers first uptick after 11 weeks May 31, 2021 Mobility indicators seems to have helped drive the index After falling for 11 consecutive weeks, the Nomura India Business Resumption Index (NIBRI) registered its first uptick, picking up to 63.6 for the week ending 30 May (36.4pp below pre-pandemic level) from a low of 60.3 in the previous week. Mobility indicators seem to have driven the uptick. Google’s workplace and retail & recreation mobility indices picked up by 5.1pp and 3.1pp from the previous week, while the Apple driving index rose by 6.1pp, after a 4.6pp rise the previous week. Power demand also rose by 5 per cent w-o-w , reversing the average weekly 4 per cent contraction for the past six weeks. The labour participation rate, on the other hand, moderated to 39 per cent from 39.4 percent, although the unemployment rate improved to a still-elevated 12.2% from 14.7% last week. ....