Decline in Covid-19 cases leads to softening of high-frequency indicators: CRISIL
All indicators point towards the improving Covid-19 situation in the country but vaccine availability is one of the major bottlenecks in India's fight against Covid-19, says CRISIL report
- May 25, 2021,
- Updated May 25, 2021 6:32 PM IST
A steady decline in Covid-19 cases for the past two weeks have led to softening of high-frequency indicators of the economy, except for railway freight, which increased moderately on-week, rating agency CRISIL said in a report. Its estimate shows the daily cases have declined 22 per cent sequentially in the week ending May 23, which is faster than the 15 per cent fall the week before.
The data shows that retail and recreation, grocery and pharmacy, transit stations, workplaces, electronic toll collection, power supply and GST e-way bills have shown signs of improvement by May 17.
All indicators point towards the improving Covid-19 situation in the country, the report said. "While daily cases have dipped, testing continues to increase, growing 11% in the last week. Accordingly, test positivity rate (proportion of daily cases to samples tested) has dropped to 13.1% (from 18.8% a week earlier). Recovery rate improved to 88.7 per cent as of May 23 from 84.8 per cent the previous week," it said.
A steady decline in Covid-19 cases for the past two weeks have led to softening of high-frequency indicators of the economy, except for railway freight, which increased moderately on-week, rating agency CRISIL said in a report. Its estimate shows the daily cases have declined 22 per cent sequentially in the week ending May 23, which is faster than the 15 per cent fall the week before.
The data shows that retail and recreation, grocery and pharmacy, transit stations, workplaces, electronic toll collection, power supply and GST e-way bills have shown signs of improvement by May 17.
All indicators point towards the improving Covid-19 situation in the country, the report said. "While daily cases have dipped, testing continues to increase, growing 11% in the last week. Accordingly, test positivity rate (proportion of daily cases to samples tested) has dropped to 13.1% (from 18.8% a week earlier). Recovery rate improved to 88.7 per cent as of May 23 from 84.8 per cent the previous week," it said.