Business optimism for the July-September quarter slumped to a record low due to sharp rise in COVID-19 cases, the extension of lockdown in containment zones and staggered easing of restrictions, according to a report.
Dun & Bradstreet Composite Business Optimism Index for the July-September quarter fell to a record low of 29.4.
The index registered a decline of 40.6 per cent over the last quarter.
The BOI covered about 350 senior executives in June this year.
“The spike in the number of positive Covid-19 cases, the extension of lockdown in containment zones and the staggered easing of restrictions affected the business optimism levels,” said Arun Singh, Global Chief Economist, Dun & Bradstreet.All six optimism indices -- volume of sales, net profits, selling prices, new orders, inventories and employees -- have registered a decline as compared to the previous quarter, the report said.
