PRNewswire
Mumbai (Maharashtra) [India], July 17: Dunn & Bradstreet, a global leader in business decision-making data and analytics, released a composite business confidence index of 78.9, up 3.9% compared to Q3 2024. Four out of six confidence indices have shown improvement. Net sales confident of seven-quarter rise. Dun & Bradstreet Composite Business Optimism Index, India Inc. since 2002. , which measures the changing business sentiment, is a leading indicator of India’s overall growth, with a correlation of about 80% to Gross Domestic Product (GDP). )
Highlights
* Optimism for net profit remains unchanged in Q3 2024, hitting 9-quarter high.
* Confidence in the level of selling prices recorded an improvement of 7 percentage points, reaching a 7-quarter high.
* Confidence in order books increased by 2 percentage points on a quarterly basis.
* Confidence in hiring new employees has stagnated for four consecutive quarters.
* Confidence in inventory levels was revised down by 1 percentage point compared to the previous quarter.
* The transport and storage sector is least confident in three out of six parameters.
Arun Singh, Global Chief Economist, Dun & Bradstreet said, „The Dun & Bradstreet Business Optimism index shows that Indian businesses are very positive. Higher consumption and revival in rural demand due to expected good monsoons have boosted corporate confidence. In addition, lower consumer spending in the last three months, Looking at the recent 5.3% average growth in the IIP ending April 2024, prices and higher real incomes have boosted confidence in the seventh quarter.
Key findings from the Q3 2024 survey
Compared to the previous quarter, optimism for an increase in sales volume in Q3 2024 has improved by 7 percentage points. Food, beverages and tobacco manufacturing industries are most optimistic, while transportation and storage sector is least optimistic on this parameter.
Compared to Q2 of 2024, expectations for net profit growth in Q3 2024 increased by 1 percent. The food, beverage and tobacco manufacturing industries are most optimistic, while the transport and storage sector is least optimistic in terms of net increase. Profit on quarterly basis.
Optimism for sales prices to increase in the 3rd quarter of 2024 improved by 1 percentage point on a quarterly basis. The mining sector is most optimistic on this parameter, while the food, beverages and tobacco manufacturing sector is least optimistic about growth. Sales prices compared to previous quarter.
Optimism for an increase in new orders improved by 2 percentage points in Q3 2024 compared to Q2 2024. The textile, wood, paper and leather manufacturing industries are most optimistic, while the transport and storage sector is least optimistic on order book expansion. On a quarterly basis.
Optimism for inventory levels in Q3 2024 decreased by 1 percent compared to Q2 2024. The electrical, electronics and hardware manufacturing sector is the most confident on this parameter, while the chemical, rubber, plastic and pharmaceutical manufacturing industries are the least confident. Regarding stock levels on a quarterly basis.
Hopes for an increase in workforce hiring in Q3 2024 remain unchanged compared to the previous quarter. The automobile sector is more optimistic, while the chemical, rubber, plastic and pharmaceutical industries are less optimistic about hiring compared to the previous quarter.
Notes for teachers
The Business Optimism Index (BOI) is a quarterly survey-based index designed to measure the pulse of the Indian business community across India and serves as a reliable indicator of the economy. Dunn & Bradstreet surveys respondents (senior management) across India across the manufacturing and service sectors, covering businesses of various sizes (large, medium and small) to calculate BOI. Respondents were asked about their expectations (increase, decrease or no change) of their company’s performance (six BOI parameters) in the next quarter compared to the same quarter of the previous year.
About Dun & Bradstreet:
Dunn & Bradstreet, a leading global provider of business decision-making data and analytics, helps companies around the world improve their business performance. Dun & Bradstreet’s Data Cloud powers solutions and provides insights that help clients accelerate revenue, drive lower costs, reduce risk and transform their businesses. Since 1841, companies of all sizes have trusted Dunn & Bradstreet to help them manage risk and uncover opportunity. For more information about Dun & Bradstreet, visit www.dnb.com.
Headquartered in Mumbai, Dun & Bradstreet Information Services India Pvt Ltd provides data-driven products and technology-driven platforms that help clients make faster and more accurate decisions in the fields of finance, risk, compliance, IT and marketing. Working towards the Government of India’s vision of creating an Atmanirbar Bharat (Self-reliant India) by supporting the Make in India initiative, Dunn & Bradstreet India has a special focus on improving the vision of entrepreneurs, increasing their credibility and expanding their access to global markets. Identify potential customers and suppliers while managing risk and opportunity.
India is also home to Dun & Bradstreet Technology & Corporate Services LLP, which supports global technology delivery using Dun & Bradstreet’s Global Competencies Center (GCC) state-of-the-art technology. Located in Hyderabad, GCC has a highly skilled workforce of over 500 employees and focuses on improved productivity, economies of scale, sustainable delivery processes and low operating costs.
For more information visit www.dnb.co.in.
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