Why economists remain pessimistic amid signs of economic recovery

Some believe recent indicators like GST numbers are overstated, most are sceptical about the impact of a stubborn pandemic

A host of high-frequency indicators that came up recently pointed to the emergence of green shoots in  the economy.  Goods and services tax (GST) collections, purchasing managers' index (PMI) for manufacturing and export growth, all for the month of September, seemed to signal recovery in the economy.

September GST collections, for instance, were not only the highest in seven months at over Rs 95,000 crore but were also 4 per cent beyond the mop-up in the same month last year. The same was the case with exports, which rose 5 per cent in September year-on-year, representing the first growth in