Aug 2020 solid fuel imports at 16.94 million Metric Tons (MMT) continue to be significantly lower by 14.8%over last year’s levels of 19.80 MMT but there has been a turnaround in trend continues. August imports are higher than July imports of 14.89 MMT by 13.76%.
The economy picked up momentum in June after it started opening up post the lockdown but the upward momentum seems to have lost steam and the growth curve is plateauing before a full recovery can taken place.
High frequency data in September showed that economic recovery was gaining pace. The Nomura India Business Resumption Index (NIBRI) came in at 82.3 for the week ending September 20 from 81.2 a week earlier, recording the second consecutive week of a fresh post-lockdown high.
The surge in the figure was driven by a continued rise in mobility as evidenced by the Google retail and recreation mobility index and the Apple driving index even as workplace mobility worsened, Nomura said in a report on Monday.
The data suggested rising lockdown fatigue as consumers were increasingly stepping out for shopping and recreational purposes while disregarding pandemic.
The NIBRI, which tracks business activity through high frequency indicators like mobility, power consumption and employment, showed a consistent pickup over August and September after stagnating at the 70 mark in July.
IMAN Monthly Report - August
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This analysis has been compiled by obtaining data from Iman Resources’ sources.
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