‘Strong economic recovery expected in coming months’
   Date :29-Jul-2021

economic recovery _1 
 
 
NEW DELHI ;
 
THOUGH the economic recovery slowed in May 2021 due to daunting impact of second wave of COVID-19, the decline in new coronavirus cases and gradual unlocking in many parts of the country have given way for rebound in the economic recovery once again, PHD Chamber of Commerce and Industry has said in its latest Economic Business Momentum (RBM) Index. The PHDCCI index is based on 25 leading economic and business indicators that have a bearing on country growth.
 
PHDCCI EBM Index is a composite index of 25 lead economic and business indicators with base year at 2018-19 100, which considers the demand and supply indicators to present a broad perspective of the economy. These include steel, intermediate goods, merchandise exports, GST collections and SENSEX among others. According to the EBM Index, lead economic and business indicators have shown a higher growth in May 2021 as compared with May 2020. The recovery trend in key economic indicators is indicating strengthened growth trajectory of Indian economy in the coming months, said PHDCCI president Sanjay Aggarwal. However, sequentially, the PHDCCI EBM Index has shown a decline for May 2021.