Business optimism index at its lowest in four years
The Business Optimism Index computed by Dun & Bradstreet hit its lowest level since October 2004.
By PTI |
MUMBAI: The Business Optimism Index computed by Dun & Bradstreet hit its lowest level since October 2004, the business information provider firm said.
The index which reflects the perception of the business community for the quarter July to September recorded a decrease of 11.2 per cent to 136.5 from 153.7 in the previous quarter. While on a year to year basis, the index recorded a decrease of 18.4 per cent.
Kaushal Sampat, chief operating officer of D&B said the firm which started computing this index eight years ago surveyed 350 small and big companies representing different sectors before arriving at the index figure.
It is one of the few prediction surveys conducted in the country which try to gauge the industry mood about the prospects for the next quarter. Other surveys being that of NCEAR, ABN Amro, FICCI among others.
According to Sampat, "there is a strong bearish trend in the economy and the decline in confidence was first noticed in the previous quarter."
While the composite index has hit the lowest level since October 2004, other parameters like expectations in terms of sales, profits and new orders are still weaker and the indices tracking these three parametres separately have hit the lowest level in the last six years.
The index which reflects the perception of the business community for the quarter July to September recorded a decrease of 11.2 per cent to 136.5 from 153.7 in the previous quarter. While on a year to year basis, the index recorded a decrease of 18.4 per cent.
Kaushal Sampat, chief operating officer of D&B said the firm which started computing this index eight years ago surveyed 350 small and big companies representing different sectors before arriving at the index figure.
It is one of the few prediction surveys conducted in the country which try to gauge the industry mood about the prospects for the next quarter. Other surveys being that of NCEAR, ABN Amro, FICCI among others.
According to Sampat, "there is a strong bearish trend in the economy and the decline in confidence was first noticed in the previous quarter."
While the composite index has hit the lowest level since October 2004, other parameters like expectations in terms of sales, profits and new orders are still weaker and the indices tracking these three parametres separately have hit the lowest level in the last six years.
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