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Home / Economy / Mint tracker: Recovery hits Omicron hurdle in December

The early impact of the third covid wave weakened India’s recovery trajectory in December, according to a group of high-frequency indicators compiled as part of Mint’s monthly macro tracker.

Just four of 16 indicators considered in the tracker were green. This was a notch below November. Nine indicators were red in both months, while the number of amber indicators were two in November and three in December. The third wave-induced decline in economic activity will reflect in the tracker next month.

Launched in October 2018, Mint’s macro tracker provides a comprehensive state-of-the-economy report every month, based on 16 indicators covering four segments: consumer economy, producer economy, external sector, and ease of living. Its colour-coding—red, green and amber—is based on the performance relative to the five-year average trend. The automotive sector has been the worst hit by the global semiconductor supply crisis since mid-2021. While car sales—part of the consumer segment—rose since November, there was a drop compared to the same month two years ago. Tractor sales, often considered a proxy for rural economic recovery, grew just 1.9% annually over the last two years, the most subdued growth since the lockdown month of May 2021.