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Lockdowns pull down business activity to 76% of pre-pandemic level; unlikely to impact GDP: Report
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Lockdowns pull down business activity to 76% of pre-pandemic level; unlikely to impact GDP: Report
PTI / Apr 27, 2021, 19:16 IST
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The ongoing second wave should remain a short-term negative economic shock which is likely to be localised to the June quarter, the report said. (Representative image)
MUMBAI: Business activity has fallen by a fourth of the pre-Covid levels due to lockdowns imposed by states to contain the spread of the second wave of Covid-19, Japanese brokerage Nomura said on Tuesday.
However, it said the falling activity levels will have a muted economic impact and maintained its growth estimates for the year, saying the lockdowns present “downside risks”. ....

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