Economic Activity Hits July Low As Pandemic Intensifies

Economic activity indicators fell sharply for the second week in a row as COVID-19 cases surged in the country.

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QuantEco Research's Daily Activity and Recovery Tracker Index fell below the pre-pandemic level in the week to Sunday to 99.4, the lowest level since July. The index has fallen 4.3% on week after a 10.5% decline in the previous week.

Nomura's India Business Resumption Index barely stayed above pre pandemic level falling to 102.9 for the week ended Sunday from 107.9 a week ago. The index was at a record 120.3 two weeks ago. The two indices assume 100.0 as the pre-pandemic level of activity.