Economic recovery weakens after Diwali, Gujarat sees biggest slide
After recording a fast uptick in the first half of November, some high-frequency economic indicators reversed gains after the festival, shows Mint’s state recovery tracker
The Indian economy’s festival-driven economic recovery continued in early November but appeared to lose steam towards the second half of the month, shows Mint’s state recovery tracker. The recovery was possibly interrupted due to post-Diwali fears of a second covid wave in some states. The slowdown after mid-November was most evident in high-frequency indicators such as mobility and power demand.