Our proprietary DART (Daily Activity and Recovery Tracker) Index estimates economic activity to have declined for the first time in 10 weeks
Download ReportQuantEco DART Index Economic activity retreats for the week
Notwithstanding last week’s loss of momentum, Jul-21 has seen a measured recovery in economic activity to near pre-pandemic level, which was marginally overshot in Feb-21. This has been led by a stronger uptick in E-way Bills, Traffic movement and Online Restaurant Searches; even as Consumer Mobility and industry-oriented indicators of Rail freight and Electricity Generation took a breather in the month. Economic activity can be expected to continue to trend sideways in the coming weeks.
While we remain watchful of a rise in COVID cases in select states/districts, the vaccine effectiveness getting validated globally by low mortality/hospitalisation rates despite the rise in Delta variant, offers hope. The recent Sero survey by ICMR, which estimates 2 out 3 Indians possessing COVID anti-bodies, gives India an opportune window to up the pace of daily vaccinations from the current run rate of ~4.1 mn to ~6 mn; in a bid to inoculate close to 60% of the population with a single dose by year end.