High frequency indicators picked up in Unlock 1: SBI Ecowrap

New Delhi, July 1 (IANS) Various high frequency indicators have shown a pick up in Unlock 1period which lasted from June 1 to 30, a SBI Ecowrap report said on Wednesday.The report cited high frequency indicators including Google mobility index, Apple mobility index, labour participation rate, RTO transactions, electricity consumption, and weekly food arrivals – all which had declined during lockdown phases – having shown a pick up in the Unlock period.”However, level of various indicators is still down compared to last one year peak,” the report said.”In almost all states (except Tamil Nadu), increase in mobility during Unlock is associated with increase in total Covid-19 cases.”As per report, air quality index, which improved initially, deteriorated in lockdown 3 and 4 but has again improved in June.Besides, the report pointed out that SBI business disruption index showed maximum disruption on April 12 and “it moved up thereafter”. “The first two weeks of June show steep increase in index… however it declined again somewhat in the 3rd week,” the report said.”Bank deposits increased during the first two lockdowns but declined in the 3rd. After increasing in 4th lockdown they have declined again in Unlock phase (June 20).”In addition, percentage of leading indicators showing acceleration dipped in March 2020 and are recovering since.–IANS rv/sn/vd

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