‘Slower testing, delayed peaking, lagging recovery for India’

Of the top six states worst hit by COVID, new cases are rising again in Delhi, Andhra Pradesh and Karnataka while Maharashtra is seeing a sharp uptick.

The latest COVID tracker by JM Financial flags slower testing, delayed peaking and lagging recovery.

The tracker notes that growth in daily case fell to 2.1 % versus 2.2% last week, with moderation in testing growth.

Uptick in trajectories has been seen for the seemingly peaking states, including Andhra Pradesh, Karnataka, Delhi while a sharp uptick in some districts of Maharashtra.

As far as economic indicators are concerned, the report notes that most consumption indicators are holding up the momentum, recovery in industrial indicators is slow and rural indicators remain steady.

The report notes that India has still not peaked out while there is a strong second wave in the UK and Spain. The daily case growth is second highest among top-hit nations at 2.1 % versus 2.2 % last week.

The daily recoveries-to-new cases ratio for India averaged 82 % last week while deaths topositives ratio moderated to 1.65 % versus 1.72% last week.

Deaths per test for India remain below most nations while the daily growth in testing per million falls further this week (at 2.1 %; now at par with daily case growth.