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| Biz confidence surpasses pre-crisis level: NCAER |
| Press Trust of India / Mumbai Nov 19, 2009, 19:22 IST |
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The business confidence index has bounced back on improving economic conditions and has in fact surpassed the level prevailed prior to the global financial meltdown, a survey has said.
"Given the continuing weakness in the global markets, strong business confidence in national economic policies implies that commercial policies will be much more aligned with domestic economic policy directions," the survey prepared by the leading economic think-tank NCAER and MasterCard said here today.
The business confidence index went up by 21 per cent in October at 143.7 points as compared to 119.9 in October 2008, according to the survey.
Released every quarter, the index is based on survey indicators relating to overall economic conditions and financial positions of companies in the next six months, investment climate and level of capacity utilisation.
The survey, which received 545 responses in the latest round, also looked at trends within company-specific business outlook indicators, including a political confidence index.
"The sharp rise in the index indicates that there is optimism about an improvement in the overall economic conditions and investment climate over the next six months,” MasterCard Worldwide South Asia vice-president and country general manager for India TV Seshadri said while releasing the report.
The survey also focused on exports, investments and domestic sales and the findings revealed that the adverse impact is greater on investments than on exports or domestic sales.
The responses also indicated that the adverse impact is less widely expected in 2009-10 as compared to 2008-09.
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