Localised lockdowns to slow recovery: Nomura


‘Business resumption outlook worrying’.

Lockdowns in Gujarat, Delhi, Madhya Pradesh, Gujarat, Haryana and Himachal Pradesh can slow the economic recovery, and the outlook on business resumption remains concerning, a Japanese brokerage said on Monday.

Nomura, which has built a business resumption index to gauge the recovery after the pandemic, said that the index moved up by a notch for the week ended November 22, but continues to be below pre-pandemic levels.

However, it is the localised lockdowns in various States due to an increase in COVID-19 infections which seemed to worry the analysts.

The lockdowns could “slow the sequential pace of recovery in the next 2-3 months, following the sharp rebound thus far”, the brokerage warned.

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