New cases: Commuters wait at a bus stop in Mumbai. The state of Maharashtra, which includes Mumbai, has imposed a night curfew to tamp down Covid-19 cases that have been rising since mid-February. — AFP
MUMBAI: India’s consumption demand and business activity looked steady in February, although chances of a strong recovery appeared doubtful after a sharp surge in virus cases and the increasing risk of renewed lockdowns.
The dial on a gauge measuring so-called animal spirits showed activity cruising at a steady pace for the fifth straight month, with all eight high-frequency indicators tracked by Bloomberg News holding their ground last month. The number was arrived at by using the three-month weighted average to smooth out volatility in the single-month scores.
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