In slow gear: Pace of recovery nowhere near comfort level

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July 28, 2020 7:48 AM

The pace of recovery remains stuck at around 30pp below normal, as worsening mobility and employment data offset higher power demand.

employment data offset, post lockdown, power demand, indian economy, NomuraNomura sees a rising risk that the sequential improvement in activity may fade after the initial post-lockdown normalisation

The pace of recovery remains stuck at around 30pp below normal, as worsening mobility and employment data offset higher power demand.

Thus, while high frequency indicators for Q2 broadly suggest a normalisation, Nomura sees a rising risk that the sequential improvement in activity may fade after the initial post-lockdown normalisation.

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