NIBRI rises to 105.1 in week ending 10 October

The Nomura India Business Resumption Index (NIBRI) marginally rose to 105.1 in the week ended 10 October 2021 from 105 in the previous week. The brokerage is of the view that the current rise is more broad-based. Of the underlying fast-frequency indicators, power demand rose by 0.7 per cent during the week ended 10 October compared to the preceding week, while labour participation rate increased to 40.4 per cent from 39.2 per cent. The Apple driving index and the Google mobility index, rose by four pp each. But, workplace mobility fell by two pp. Nomura cautioned that if power outages become more widespread, then industrial output could suffer in the near term, while higher energy costs may squeeze firms’ margins and add to consumer price inflation.