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The Nomura India Business Resumption Index (NIBRI) picked up to 63.6 for the week ended May 30, from a low of 60.3 a week earlier, the firm said in a note on Monday. ....
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. ....
Impact of India s second Covid-19 wave showing on mobility and non-mobility sectors: Nomura SECTIONS Share Synopsis The Nomura India Business Resumption Index (NIBRI) fell to 60 for the week ended May 23, down from 63 a week earlier. This reflected a severe drop in the index, which tracks high-frequency economic indicators such as mobility, power demand and unemployment, to levels seen in June last year after a full recovery in February, Nomura said in a note on Monday. Both mobility and non-mobility sectors of the Indian economy were reflecting the impact of the second wave of Covid-19 and the ensuing lockdowns as business activity continued to plunge further in May, said Japanese brokerage Nomura. ....
Second Covid wave fallout: Business activity dips to last june levels due to lockdowns The Nomura India Business Resumption Index fell sharply to 64.5 for the week ended May 9 from 69.7 a week ago. This is 35% below pre-pandemic levels. Share Via Email | A+A A- By Express News Service NEW DELHI: With the entire country in the grip of localised lockdowns, India’s business activity has shrunk to levels last seen in June 2020, according to Japanese brokerage Nomura. The Nomura India Business Resumption Index (NIBRI), which tracks business activity on a weekly basis, fell sharply to 64.5 for the week ended May 9 from 69.7 a week ago. This is 35% below pre-pandemic levels. ....
India s pace of business activity resumption drops to June 2020 levels: Nomura SECTIONS Share Synopsis The Nomura India Business Resumption Index (NIBRI), dipped to 64.5 for the week ended May 11, down from 69.7 a week earlier, the firm said in a note on Tuesday. Agencies While Nomura maintained its recent downgrade of India’s FY22 growth forecast to 10.8% from 12.6%, SBI Research said it was apprehensive of double-digit growth this fiscal after revising its projections to 10.4% in April. The pace of India’s business activity resumption dropped drastically to levels last seen in June after having fully recovered in February, according to Japanese brokerage Nomura. ....