Consequently, the firms have projected a decline in inflation rate this month even as they expect further growth in confidence in macro-economy during the period.According to the survey report, businesses’ overall confidence in the macro economy grew by 6.1 points to 28.2 index points in March from 22.1 index points in February.
The report stated: “The respondents’ average expected inflation rate in the next six months and twelve months stood at 11.2 and 11.1 percent, respectively. On firms’ overall confidence index, the report read: “At 28.2 index points, respondents expressed optimism on the overall confidence index on the macro economy in the month of March 2019. The businesses outlook for April 2019 showed greater confidence on the macro economy with 64.8 index points.
“The positive outlook by type of business in March 2019 were driven by businesses that are neither import-nor export-oriented , both import-and export-oriented , import-oriented , and those that are export-related
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