As Covid-19 becomes endemic, mobility has increased rapidly, with a rebound in high-contact activities.
“However, there are headwinds from higher fuel prices, with a broader rise in inflationary pressures weighing on demand, as was the case with auto sales in March,” Nomura said in a statement Monday.
Disrupted global supply chains and weaker global growth prospects due to the Russia-Ukraine war also weighed on the recovery, it said.
The Apple Driving Index posted a surprise 22.5pp decline from the previous week, while the Google Workplace and Retail & Recreation indices rose 13.1pp and 2.6pp, respectively.
https://economictimes.indiatimes.com/news/economy/indicators/business-resumption-index-dips/articleshow/90650100.cms Business resumption index falls – The Economic Times