India’s economy showed more signs of cooling in May, but the weakness is already beginning to dissipate of late as the nation exits lockdowns imposed to check the pandemic’s spread. A slew of data from services activity to automobile sales pointed to lack of demand last month, which in turn kept the needle on an overall activity indicator unchanged at 6. The relatively strong score is because the gauge uses the three-month weighted average rates to smooth out volatility in the single-month readings. With the second Covid-19 wave now receding, the economy is already beginning to stir back to life. A basket of high-frequency, alternative and market indicators such as retail activity and road congestion pointed to a pick up in the week to June 13, Abhishek Gupta, India economist at Bloomberg Economics, said in a report.
India s jobless rate slides 8 7% in signs economy is turning around business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
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Read more about You feel numb : India s markets keep rising as traders cope with Covid-19 on Business Standard. Booming markets have left industry swamped with work at a time when many employees have been sickened by the virus.