Five States Lead National Economic Recovery
Five Indian states Kerala, Punjab, Tamil Nadu, Haryana and Karnataka contributing nearly 27% of the country’s gross domestic product are leading the recovery in the economy as it slowly emerges from the world’s biggest lockdown. These states have seen a pickup in activity, based on an analysis of indicators such as power consumption, traffic movement, arrival of farm products at wholesale markets and Google mobility data, Punjab and Haryana were among states that saw an improvement in electricity requirement, reflecting demand from farm operations. National capital Delhi also showed an increase in power demand as well as mobility increased. Google search trends showed consumers are shifting consumption patterns as they adapt to a “new way of life. Searches associated with panic-buying when the lockdown was first announced -- such as pharmacy and grocery stores and liquid soaps -- have eased. Consumers haven’t given up looking for items such as earphones, hair oil, laptops, mobile phones, jewellery, mops, toys and microwave ovens. The analysis showed there was pent-up demand for salon services, air conditioners, air travel, bikes, vacuum cleaners and washing machines.
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