3rd wave drags Indian business resumption to pre-COVID levels: Nomura

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The third wave of the COVID-19 pandemic has dragged business activity almost back to the pre-pandemic levels, according to the weekly Nomura India Business Resumption Index (NIBRI), which fell further to 100.5 for the week ended January 23 from 102.2 in the previous week. The index compares the activity in a particular week with that of pre-pandemic levels.

The index dropped due to a fall in the mobility levels as seen in the Google workplace and retail and recreation mobility, which fell by 10.7 percentage points (pp) and 4.4 pp, respectively, while the Apple driving index inched 1.7 pp higher after a massive 84 pp fall over the past two weeks, the Japanese brokerage said. The labour participation rate inched up to 39.8 per cent.

Air traffic is a third lower than the peak achieved in December before the onset of the third wave but railway passenger revenues have stabilised, it was quoted as saying by a news agency. The activity should improve in February or March, it added.

The third wave of the COVID-19 pandemic has dragged business activity almost back to the pre-pandemic levels, according to the weekly Nomura India Business Resumption Index (NIBRI), which fell further to 100.5 for the week ended January 23 from 102.2 in the previous week. The index compares the activity in a particular week with that of pre-pandemic levels.

Fibre2Fashion News Desk (DS)



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