Biz activity at highest levels since pandemic began as more people go to work: Report


PTI, Nov 22, 2021, 5:28 PM IST

Source: unsplash

Mumbai: An increase in driving to workplace resulted in the overall business activity surging to an all-time high of 14 percentage points (pp) higher than the pre-pandemic levels last week, a report said on Monday.

The weekly Nomura India Business Resumption Index (NIBRI), which compares activity in a particular week with the last week prior to the announcement of the lockdowns in March 2020, came at 114 for the seven days ended Sunday, up from 110.3 in the prior week.

Google workplace mobility rose sharply by 18.1 pp, while retail and recreation fell by 3.3 pp and the Apple driving index rose by 3.6 pp, the Japanese brokerage said.

The labour participation rate remained tepid at 39.8 per cent, while power demand rose 0.2 per cent over the last week, after the 5.5 per cent rise in prior week.

The overall growth outlook is ”obscured” by demand tailwinds and supply-side headwinds, the brokerage said.

It maintained the 9.2 per cent GDP growth estimate for FY22 but added that there is a downside risk of one per cent because of supply-side issues.

Noting that the energy crunch is easing, it said the supply-side issues emanate from the auto sector.

”October auto sales have been lacklustre, reflecting not only semiconductor shortages but also the impact of weak rural demand on two-wheeler sales,” it said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Students of govt, govt-aided schools in Karnataka to get eggs six days a week

Dawood declared terrorist in individual capacity, says Bombay HC; grants bail to 2 UAPA accused

‘Cultural assets of India’: Seers welcome law to prevent misuse of names of chardham

Olympics 2024: 24 Indian armed forces personnel at Paris Games, maiden participation of female service athletes

Will scrap Dharavi slum redevelopment project tender after coming to power: Uddhav Thackeray

13-year-old raped, blackmailed by Instagram friend in MP; two held

BJP dares Congress government in Karnataka to probe scams during its rule

Related Articles More

Job-for-locals bill: Skilling, not legislation, key to meet evolving industry demands, say experts

Nobody expects RBI to be cheerleader, coordination with government helped fast revival in economy: Governor Das

Infosys shares jump nearly 5 pc; market valuation jumps by Rs 20,843 cr after earnings announcement

Will support whatever regulations, guidelines come: Infy CEO on draft K’taka reservation bill

Markets decline in early deals on weak global peers, profit-taking

MUST WATCH

Brahma Kumaris

Tapta Mudra Dharana

Banana Farming

Aghnashini River

Dr. Rajkumar


Latest Additions

Renowned Kannada TV serial director Vinod Dondale found dead, suicide suspected

Wrestlers will continue medal-winning trend in Paris: Yogeshwar Dutt

Southern Railway rejects reports of bifurcation of Palakkad division

Karnataka HC directs actor Darshan to approach magistrate court for home food in jail

Students of govt, govt-aided schools in Karnataka to get eggs six days a week

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.