31 May 2011
Business confidence in Namibia slipped in April as the consumption sub-index fell, hit by what looked like a temporary fall in car sales, a survey released yesterday showed.
The Business Climate Index (BCI), produced by the Institute for Public Policy Research, dropped 3,5 points to 111,1 in April from 114,6 in March, after three months of straight gains.
The BCI is based on 13 broad economic indicators that are likely to impact on the domestic business environment.
The consumption index fell 8,8 basis points, hit by a 20 per cent month-on-month fall in car sales. The IPPR said the drop was due to seasonal fluctuations before domestic motor shows and that sales should rise again in the coming months.
The investment index fell by 5,4 points, partly due to troubles in the construction sector and company registrations, which fell by 21 per cent in April.
The leading indicator was down 6,5 points but overall, it gcontinues to point towards a favourable economic climate six months down the line, h the IPPR said in a statement.-Nampa-Reuters
AllAfrica – All the Time
Originally posted here:
Business Confidence Down in April