After a quick rebound in economic activity starting October, several high-frequency indicators have plateaued in the last four-to-six weeks. The flattening of economic momentum comes alongside rise in new cases in some states, most notably Maharashtra and Kerala. Economic momentum seems to be getting weaker though leading indicators point to a continued recovery, Saugata Bhattacharya, chief economist at Axis Bank, said in a March 1 report. The beginning of a second wave is visible in India, but case increments so far are concentrated in a few districts, Bhattacharya added.