The Covid-19 pandemic has become more pervasive even as the nation begins to lift restrictions.
A recent note from the Credit Suisse Group showed that testing is revealing more cases than before, and the geographical spread of the disease has also been increasing.
Key states like Tamil Nadu, Gujarat, Delhi and Maharashtra are all finding more positive cases for every hundred tests they do. This ranges from five per cent to 15 per cent, all higher than a fortnight ago. It is 20 per cent in Mumbai, the financial capital, noted the report.
“Reported growth is higher than the 0-2 per cent growth in economies relaxing their lockdowns; this is despite tests growing slower than infections (capacity may not be the reason), with positive test ratio 5.4% vs. 4% a month back, and incrementally now 7 per cent-plus,” noted the 8th Market Strategy report authored by research analysts Neelkanth Mishra, Abhay Khaitan and Prateek Singh.
It is also spreading beyond key locations. The top ten districts accounted for over 62 per cent share only ten days ago. This has since fallen to 55 per cent.
Economic indicators have been mixed. The Goods and Services Tax (GST) shows a rise, though still below normal. More grocery store visits are happening, and traffic is also expected to rise, noted the report.