CII Business Confidence Index Rebounds To Two-Year High In Q3

Given its bearing on the overall economy, a recovery in rural demand is eagerly awaited.

Business Confidence Index Rebounds

The latest CII Business Confidence Index for the October-December quarter of fiscal 2023 rebounded from 62.2 in the previous quarter to 67.6, its highest reading in almost two years

What's The Index All About?

The index is based on the findings of a survey of over 120 firms of varying sizes across industry sectors and regions of the country.

Global Headwinds To Have Minimal Impact

Even as global economic growth is witnessing headwinds due to tightening financial conditions and geopolitical tensions, an overwhelming 73% of survey respondents expect only a moderate impact on the Indian economy.

Company Investment Cycle Expected To Recover

The survey results present an encouraging prognosis, with 90% of the respondents expecting that their company's investment cycle will recover during the next fiscal.

Rural Demand May Recover

Given its bearing on the overall economy, a recovery in rural demand is awaited and about 60% of respondents feel that a pick-up in rural consumption will take place in the next fiscal, says the CII.

Expectations For December Quarter Improve

With a resumption of business activity, expectations for the December quarter have improved, as the majority of respondents anticipate an increase in sales (60%) and a count of new orders (55%).

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