Partial reopening doing little to boost activity

While the nationwide lockdown has been extended again, the latest phase includes a significant relaxation of containment measures in areas less affected by the virus. In principle, this should ease the plight of millions of workers who, in the absence of adequate support from the government, will have taken a significant financial hit during the first two phases of the lockdown. But at the macro level, the easing of restrictions has had only a minimal impact on boosting activity.