The Industrial Outlook Survey conducted during May-June 2014, provides qualitative assessment of business situation of companies in the Indian manufacturing sector for Q1:2014-15 and their expectations for the ensuing quarter Q2:2014-15. The survey elicited response from 1,293 manufacturing companies.
Highlights:
Summary Table: Net response2 (NR in %) comparison over previous quarter |
Assessment period |
Expectation period |
Parameters |
Q1:2014-15 |
Q4:2013-14 |
Parameters |
Q2:2014-15 |
Q1:2014-15 |
Improved positivity: |
|
|
Increased Optimism: |
|
|
i. Order books |
16.4 |
14.8 |
i. Order books |
29.1 |
24.6 |
ii. Availability of finance |
12.4 |
10.8 |
ii. Production |
33.7 |
27.1 |
Reduced concern: |
|
|
iii. Capacity utilisation |
19.4 |
11.2 |
i. Cost of finance |
-22.2 |
-27.9 |
iv. Imports |
15.0 |
10.5 |
ii. Cost of raw material |
-49.5 |
-54.1 |
v. Employment |
8.9 |
7.2 |
iii. Profit margins |
-15.1 |
-16.5 |
vi. Availability of finance |
20.6 |
16.0 |
|
|
|
vii. Selling price |
12.5 |
15.1 |
|
|
|
viii. BEI |
114.7 |
111.1 |
| |
|
|
Reduced pessimism: |
|
|
| |
|
|
i. Cost of finance |
-17.2 |
-22.2 |
| |
|
|
ii. Cost of raw material |
-42.1 |
-46.9 |
| |
|
|
iii. Profit margin |
-2.3 |
-5.4 |
Decline in positivity: |
|
|
Pessimism: |
|
|
i. Production |
17.2 |
20.0 |
- |
|
|
ii. Capacity utilisation |
6.0 |
9.9 |
|
|
|
iii. Exports |
10.5 |
16.4 |
|
|
|
No Change: |
|
|
No Change: |
|
|
i. Imports |
9.3 |
9.3 |
- Exports |
21.4 |
21.6 |
ii. Employment |
5.4 |
5.4 |
|
|
|
iii. Selling price |
9.8 |
9.6 |
|
|
|
iv. BEI |
105.2 |
104.3 |
|
|
|
Expectation quarter (Q2:2014-15)
-
Business outlook of the Indian manufacturing sector as inferred from movements in Business Expectation Index (BEI), shows improvement for Q2:2014-15 (114.7) as compared to previous quarter (111.1) and the corresponding quarter of previous year (112.7).
-
The improvement in BEI for the expectation quarter is mainly due to improved optimism on overall business situation, production, order books, capacity utilisation, imports, exports added with the reduced pessimism on cost of finance, cost of raw material and the profit margin.
-
For Q2:2014-15, the proportion of respondents who expected increase in production and at the same time decline in employment (indicating jobless growth) turns out to be around two per cent. This has been consistent throughout past ten rounds of the survey.
Assessment quarter (Q1:2014-15)
- The business sentiments in Q1:2014-15 remained broadly unchanged from that of the previous quarter.
Table 1: Assessment and Expectation for Production |
(Percentage responses) @ |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response# |
Increase |
Decrease |
No change |
Net response |
Q1:2013-14 |
1321 |
32.0 |
22.2 |
45.7 |
9.8 |
38.3 |
13.8 |
47.9 |
24.4 |
Q2:2013-14 |
1207 |
31.8 |
21.0 |
47.2 |
10.8 |
40.6 |
12.1 |
47.3 |
28.5 |
Q3:2013-14 |
1223 |
31.7 |
20.22 |
48.1 |
11.5 |
40.8 |
12.0 |
47.2 |
28.9 |
Q4:2013-14 |
1114 |
36.6 |
16.6 |
46.7 |
20.0 |
42.3 |
10.2 |
47.5 |
32.1 |
Q1:2014-15 |
1293 |
34.4 |
17.2 |
48.4 |
17.2 |
39.2 |
12.2 |
48.6 |
27.1 |
Q2:2014-15 |
|
|
|
|
|
43.4 |
9.7 |
46.8 |
33.7 |
‘Increase’ in production is optimistic.
@: Due to rounding off percentage may not add up to 100. This is applicable for all the tables from 1 to 17.
#: Net Response (NR) is the difference of percentage of the respondents reporting optimism and that reporting pessimism. The range is - 100 to 100. Any value greater than zero indicates expansion and any value less than zero indicates contraction. |
Table 2: Assessment and Expectation for Order Books |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Q1:2013-14 |
1321 |
30.5 |
20.9 |
48.6 |
9.7 |
35.5 |
13.2 |
51.2 |
25.3 |
Q2:2013-14 |
1207 |
27.9 |
22.3 |
49.8 |
5.5 |
36.8 |
11.5 |
51.8 |
25.3 |
Q3:2013-14 |
1223 |
28.2 |
21.2 |
50.6 |
7.0 |
34.7 |
13.7 |
51.5 |
21.0 |
Q4:2013-14 |
1114 |
32.1 |
17.3 |
50.6 |
14.8 |
38.1 |
10.5 |
51.4 |
27.6 |
Q1:2014-15 |
1293 |
31.8 |
15.4 |
52.9 |
16.4 |
36.2 |
11.5 |
52.3 |
24.6 |
Q2:2014-15 |
|
|
|
|
|
38.2 |
9.1 |
52.6 |
29.1 |
| ‘Increase’ in order books is optimistic. |
Table 3: Assessment and Expectation for Pending Orders |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Below Normal |
Above Normal |
Normal |
Net response |
Below Normal |
Above Normal |
Normal |
Net
response |
Q1:2013-14 |
1321 |
19.9 |
3.6 |
76.5 |
16.3 |
16.9 |
5.3 |
77.7 |
11.6 |
Q2:2013-14 |
1207 |
21.3 |
3.9 |
74.8 |
17.3 |
15.9 |
4.4 |
79.6 |
11.5 |
Q3:2013-14 |
1223 |
19.2 |
5.1 |
75.7 |
14.1 |
17.5 |
3.8 |
78.8 |
13.7 |
Q4:2013-14 |
1114 |
16.1 |
5.4 |
78.5 |
10.7 |
14.2 |
6.0 |
79.8 |
8.1 |
Q1:2014-15 |
1293 |
15.6 |
5.1 |
79.3 |
10.5 |
14.0 |
5.8 |
80.1 |
8.2 |
Q2:2014-15 |
|
|
|
|
|
12.3 |
5.7 |
82.0 |
6.5 |
| Pending orders ‘Below Normal’ is optimistic. |
Table 4: Assessment and Expectation for Capacity Utilisation |
(Percentage responses) |
Parameter |
Options |
Assessment |
Expectation |
Q1:2013-14 |
Q2:2013-14 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q1:2013-14 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q2:2014-15 |
Capacity Utilisation (CU)-(main product) |
Increase |
22.6 |
20.7 |
20.7 |
24.9 |
22.3 |
27.5 |
26.8 |
27.2 |
23.8 |
29.5 |
No Change |
57.1 |
58.6 |
59.9 |
60.1 |
61.3 |
60.9 |
60.6 |
61.9 |
63.6 |
60.4 |
Decrease |
20.3 |
20.7 |
19.4 |
15.0 |
16.3 |
11.6 |
12.6 |
10.9 |
12.6 |
10.1 |
Net Response |
2.3 |
0.0 |
1.3 |
9.9 |
6.0 |
15.9 |
14.2 |
16.3 |
11.2 |
19.4 |
Level of CU (compared to the average in last 4 quarters) |
Above normal |
8.7 |
8.9 |
8.5 |
10.1 |
10.3 |
9.8 |
9.8 |
11.1 |
9.7 |
10.6 |
Normal |
71.0 |
70.7 |
69.7 |
72.2 |
71.8 |
76.2 |
75.0 |
73.4 |
75.4 |
76.6 |
Below Normal |
20.3 |
20.4 |
21.8 |
17.6 |
17.9 |
13.9 |
15.2 |
15.5 |
14.9 |
12.7 |
Net Response |
-11.6 |
-11.5 |
-13.3 |
-7.5 |
-7.6 |
-4.1 |
-5.3 |
-4.4 |
-5.2 |
-2.1 |
Assessment of Prod. Capacity (with regard to expected demand in next 6 months) |
More than adequate |
14.6 |
15.0 |
14.7 |
13.9 |
13.8 |
13.7 |
14.8 |
15.7 |
13.4 |
12.9 |
Adequate |
76.4 |
77.0 |
76.6 |
77.9 |
78.1 |
78.4 |
78.0 |
77.6 |
79.5 |
80.3 |
Less than adequate |
9.0 |
8.1 |
8.7 |
8.2 |
8.1 |
7.9 |
7.1 |
6.8 |
7.1 |
6.8 |
Net Response |
5.7 |
6.9 |
5.9 |
5.7 |
5.7 |
5.8 |
7.7 |
8.9 |
6.3 |
6.1 |
| ‘Increase’ in capacity utilisation is optimistic. |
Table 5: Assessment and Expectation for Exports |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Q1:2013-14 |
1321 |
23.8 |
15.2 |
61.0 |
8.6 |
27.1 |
10.4 |
62.5 |
16.7 |
Q2:2013-14 |
1207 |
24.9 |
17.1 |
58.0 |
7.8 |
28.6 |
10.0 |
61.5 |
18.6 |
Q3:2013-14 |
1223 |
24.2 |
13.4 |
62.4 |
10.9 |
27.4 |
10.9 |
61.7 |
16.5 |
Q4:2013-14 |
1114 |
29.3 |
12.9 |
57.9 |
16.4 |
28.3 |
8.9 |
62.8 |
19.5 |
Q1:2014-15 |
1293 |
24.6 |
14.1 |
61.2 |
10.5 |
31.7 |
10.0 |
58.3 |
21.6 |
Q2:2014-15 |
|
|
|
|
|
29.9 |
8.5 |
61.5 |
21.4 |
| ‘Increase’ in exports is optimistic. |
Table 6: Assessment and Expectation for Imports |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Q1:2013-14 |
1321 |
18.7 |
10.7 |
70.6 |
8.0 |
20.4 |
8.5 |
71.1 |
11.2 |
Q2:2013-14 |
1207 |
18.3 |
14.7 |
67.0 |
3.6 |
19.9 |
8.7 |
71.4 |
11.2 |
Q3:2013-14 |
1223 |
19.1 |
12.0 |
68.9 |
7.0 |
19.0 |
11.3 |
69.7 |
7.7 |
Q4:2013-14 |
1114 |
19.3 |
10.0 |
70.7 |
9.3 |
20.8 |
7.3 |
71.9 |
13.4 |
Q1:2014-15 |
1293 |
18.8 |
9.4 |
71.8 |
9.3 |
18.3 |
7.8 |
73.9 |
10.5 |
Q2:2014-15 |
|
|
|
|
|
21.2 |
6.2 |
72.6 |
15.0 |
| ‘Increase’ in imports is optimistic. |
Table 7: Assessment and Expectations for level of Inventory (Raw Material and Finished Goods) |
(Percentage responses) |
Parameter |
Options |
Assessment |
Expectation |
Q1:2013-14 |
Q2:2013-14 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q1:2013-14 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q2:2014-15 |
Inventory of raw material |
Below average |
8.0 |
8.7 |
8.3 |
7.7 |
7.2 |
6.3 |
6.3 |
5.3 |
6.7 |
6.4 |
Average |
78.7 |
78.7 |
78.9 |
79.2 |
80.2 |
84.2 |
83.6 |
83.7 |
83.6 |
83.7 |
Above average |
13.3 |
12.6 |
12.8 |
13.2 |
12.6 |
9.5 |
10.1 |
11.0 |
9.7 |
9.9 |
Net Response |
-5.3 |
-3.8 |
-4.6 |
-5.5 |
-5.4 |
-3.3 |
-3.9 |
-5.8 |
-3.1 |
-3.5 |
Inventory of finished goods |
Below average |
8.1 |
7.5 |
7.3 |
7.7 |
6.7 |
7.0 |
6.2 |
6.6 |
7.6 |
6.4 |
Average |
77.3 |
77.0 |
75.3 |
76.9 |
79.1 |
82.7 |
82.5 |
80.8 |
81.8 |
82.9 |
Above average |
14.7 |
15.5 |
17.4 |
15.4 |
14.1 |
10.3 |
11.3 |
12.6 |
10.6 |
10.8 |
Net Response |
-6.6 |
-8.1 |
-10.2 |
-7.6 |
-7.4 |
-3.3 |
-5.0 |
-6.0 |
-3.0 |
-4.4 |
| Inventory of raw material and finished goods ‘Below average’ is optimistic. |
Table 8: Assessment and Expectations for Employment Outlook |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Q1:2013-14 |
1321 |
14.4 |
11.2 |
74.4 |
3.2 |
16.0 |
8.0 |
76.1 |
8.0 |
Q2:2013-14 |
1207 |
11.3 |
11.5 |
77.3 |
-0.2 |
16.0 |
8.4 |
75.6 |
7.7 |
Q3:2013-14 |
1223 |
13.1 |
12.7 |
74.2 |
0.4 |
13.3 |
8.8 |
77.9 |
4.5 |
Q4:2013-14 |
1114 |
16.1 |
10.7 |
73.2 |
5.4 |
14.3 |
7.4 |
78.3 |
7.0 |
Q1:2014-15 |
1293 |
15.0 |
9.6 |
75.4 |
5.4 |
15.7 |
8.4 |
75.9 |
7.2 |
Q2:2014-15 |
|
|
|
|
|
15.2 |
6.2 |
78.6 |
8.9 |
| ‘Increase’ in employment is optimistic. |
Table 9: Assessment and Expectation for Overall Financial Situation |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Better |
Worsen |
No change |
Net response |
Better |
Worsen |
No change |
Net response |
Q1:2013-14 |
1321 |
23.3 |
13.8 |
63.0 |
9.5 |
31.5 |
9.6 |
58.9 |
21.9 |
Q2:2013-14 |
1207 |
21.4 |
19.5 |
59.1 |
1.8 |
33.2 |
9.1 |
57.7 |
24.1 |
Q3:2013-14 |
1223 |
23.7 |
17.3 |
58.9 |
6.4 |
29.7 |
12.4 |
57.9 |
17.3 |
Q4:2013-14 |
1114 |
25.0 |
13.1 |
61.9 |
11.9 |
33.0 |
9.5 |
57.5 |
23.5 |
Q1:2014-15 |
1293 |
26.2 |
12.3 |
61.5 |
14.0 |
30.7 |
8.4 |
60.8 |
22.3 |
Q2:2014-15 |
|
|
|
|
|
33.6 |
6.8 |
59.6 |
26.8 |
| ‘Better’ overall financial situation is optimistic. |
Table 10: Assessment and Expectation for Working Capital Finance Requirement |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Q1:2013-14 |
1321 |
30.1 |
7.3 |
60.5 |
24.8 |
33.0 |
6.5 |
60.4 |
26.5 |
Q2:2013-14 |
1207 |
32.9 |
8.1 |
59.0 |
24.8 |
31.0 |
6.5 |
62.5 |
24.5 |
Q3:2013-14 |
1223 |
33.5 |
7.2 |
59.3 |
26.3 |
32.7 |
5.3 |
61.9 |
27.4 |
Q4:2013-14 |
1114 |
34.9 |
6.2 |
58.8 |
28.7 |
35.3 |
4.7 |
60.0 |
30.6 |
Q1:2014-15 |
1293 |
31.6 |
6.6 |
61.7 |
25.0 |
33.1 |
5.0 |
61.9 |
28.1 |
Q2:2014-15 |
|
|
|
|
|
33.5 |
5.0 |
61.5 |
28.5 |
‘Increase’ in working capital finance is optimistic. |
Table 11: Assessment and Expectation for Availability of Finance |
(Percentage responses) |
Parameter |
Options |
Assessment |
Expectation |
Q1:2013-14 |
Q2:2013-14 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q1:2013-14 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q2:2014-15 |
Availability of finance (from internal accruals) |
Improve |
21.2 |
18.3 |
20.3 |
21.9 |
23.1 |
24.6 |
23.2 |
25.0 |
23.4 |
26.7 |
No Change |
65.6 |
66.4 |
66.9 |
67.1 |
66.3 |
67.9 |
67.6 |
68.5 |
69.2 |
67.3 |
Worsen |
10.4 |
15.2 |
12.7 |
11.0 |
10.6 |
7.4 |
9.2 |
6.6 |
7.4 |
6.1 |
Net Response |
12.1 |
3.1 |
7.6 |
10.8 |
12.4 |
17.2 |
14.0 |
18.4 |
16.0 |
20.6 |
Availability of Finance (from banks & other sources) |
Improve |
18.8 |
14.2 |
17.1 |
18.2 |
20.1 |
20.0 |
18.2 |
19.0 |
20.5 |
21.5 |
No Change |
74.4 |
75.6 |
74.5 |
72.4 |
72.3 |
75.2 |
75.6 |
76.2 |
73.6 |
74.7 |
Worsen |
6.7 |
10.3 |
8.4 |
9.3 |
7.6 |
4.8 |
6.2 |
4.8 |
5.9 |
3.8 |
Net Response |
12.1 |
3.9 |
8.7 |
8.9 |
12.5 |
15.2 |
12.0 |
14.2 |
14.6 |
17.6 |
Availability of Finance (from overseas, if applicable) |
Improve |
10.1 |
7.6 |
10.4 |
10.9 |
9.9 |
11.6 |
8.9 |
11.9 |
11.8 |
12.2 |
No Change |
84.7 |
84.6 |
83.1 |
83.4 |
84.8 |
83.7 |
85.0 |
84.2 |
83.6 |
84.8 |
Worsen |
5.2 |
7.8 |
6.5 |
5.7 |
5.3 |
4.6 |
6.0 |
3.9 |
4.6 |
3.0 |
Net Response |
5.0 |
-0.1 |
3.9 |
5.2 |
4.6 |
7.0 |
2.9 |
8.1 |
7.2 |
9.1 |
‘Improvement’ in availability of finance is optimistic. |
Table 12: Assessment and Expectation for Cost of Finance |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Decrease |
Increase |
No change |
Net response |
Decrease |
Increase |
No change |
Net response |
Q1:2013-14 |
1321 |
10.1 |
24.6 |
65.3 |
-14.5 |
9.7 |
24.0 |
66.3 |
-12.4 |
Q2:2013-14 |
1207 |
5.0 |
37.6 |
57.4 |
-32.7 |
9.1 |
21.5 |
69.5 |
-12.4 |
Q3:2013-14 |
1223 |
5.6 |
37.5 |
56.9 |
-32.0 |
4.9 |
33.2 |
61.9 |
-28.3 |
Q4:2013-14 |
1114 |
5.0 |
32.9 |
62.0 |
-27.9 |
4.4 |
31.1 |
64.6 |
-26.7 |
Q1:2014-15 |
1293 |
5.3 |
27.4 |
67.3 |
-22.2 |
5.4 |
27.7 |
66.9 |
-22.2 |
Q2:2014-15 |
|
|
|
|
|
6.0 |
23.2 |
70.8 |
-17.2 |
‘Decrease’ in cost of finance is optimistic. |
Table 13: Assessment and Expectation for Cost of Raw Material |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Decrease |
Increase |
No change |
Net response |
Decrease |
Increase |
No change |
Net response |
Q1:2013-14 |
1321 |
4.6 |
54.5 |
40.9 |
-49.9 |
3.6 |
49.2 |
47.1 |
-45.6 |
Q2:2013-14 |
1207 |
2.8 |
65.0 |
32.2 |
-62.2 |
3.5 |
46.9 |
49.6 |
-43.4 |
Q3:2013-14 |
1223 |
4.2 |
59.5 |
36.3 |
-55.3 |
3.2 |
54.6 |
42.2 |
-51.5 |
Q4:2013-14 |
1114 |
2.6 |
56.7 |
40.7 |
-54.1 |
2.8 |
49.1 |
48.0 |
-46.3 |
Q1:2014-15 |
1293 |
3.0 |
52.5 |
44.5 |
-49.5 |
2.9 |
49.7 |
47.4 |
-46.9 |
Q2:2014-15 |
|
|
|
|
|
3.7 |
45.8 |
50.6 |
-42.1 |
‘Decrease’ in cost of raw material is optimistic. |
Table 14: Assessment and Expectation for Selling Price |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Q1:2013-14 |
1321 |
21.4 |
14.1 |
64.5 |
7.3 |
23.1 |
8.1 |
68.8 |
14.9 |
Q2:2013-14 |
1207 |
25.1 |
13.8 |
61.1 |
11.3 |
21.2 |
9.1 |
69.7 |
12.1 |
Q3:2013-14 |
1223 |
22.3 |
14.5 |
63.2 |
7.8 |
23.4 |
9.5 |
67.0 |
13.9 |
Q4:2013-14 |
1114 |
22.0 |
12.4 |
65.6 |
9.6 |
23.3 |
8.2 |
68.5 |
15.1 |
Q1:2014-15 |
1293 |
22.0 |
12.2 |
65.8 |
9.8 |
23.4 |
8.4 |
68.2 |
15.1 |
Q2:2014-15 |
|
|
|
|
|
20.6 |
8.0 |
71.4 |
12.5 |
| ‘Increase’ in selling price is optimistic. |
Table 15: Assessment and Expectation for Profit Margin |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Q1:2013-14 |
1321 |
13.5 |
31.9 |
54.6 |
-18.4 |
17.7 |
22.7 |
59.6 |
-4.9 |
Q2:2013-14 |
1207 |
12.3 |
36.4 |
51.3 |
-24.1 |
18.6 |
22.3 |
59.1 |
-3.7 |
Q3:2013-14 |
1223 |
12.8 |
35.2 |
52.0 |
-22.4 |
16.5 |
25.7 |
57.8 |
-9.3 |
Q4:2013-14 |
1114 |
14.1 |
30.6 |
55.3 |
-16.5 |
18.2 |
22.2 |
59.7 |
-4.0 |
Q1:2014-15 |
1293 |
14.3 |
29.4 |
56.4 |
-15.1 |
16.8 |
22.2 |
61.0 |
-5.4 |
Q2:2014-15 |
|
|
|
|
|
18.0 |
20.3 |
61.7 |
-2.3 |
‘Increase’ in profit margin is optimistic. |
Table 16: Assessment and Expectation for Overall Business Situation |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Better |
Worsen |
No change |
Net response |
Better |
Worsen |
No change |
Net response |
Q1:2013-14 |
1321 |
29.3 |
16.5 |
54.2 |
12.8 |
39.3 |
9.7 |
51.1 |
29.6 |
Q2:2013-14 |
1207 |
28.2 |
20.8 |
51.0 |
7.4 |
39.2 |
9.2 |
51.6 |
30.0 |
Q3:2013-14 |
1223 |
28.7 |
19.0 |
52.3 |
9.6 |
37.4 |
11.7 |
50.8 |
25.7 |
Q4:2013-14 |
1114 |
30.9 |
13.5 |
55.7 |
17.4 |
40.6 |
9.1 |
50.3 |
31.5 |
Q1:2014-15 |
1293 |
31.7 |
12.6 |
55.7 |
19.1 |
36.5 |
9.1 |
54.4 |
27.4 |
Q2:2014-15 |
|
|
|
|
|
43.9 |
7.0 |
49.1 |
37.0 |
‘Better’ Overall Business Situation is optimistic. |
Table 17: Assessment and Expectation for Salary/Other Remuneration |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Q2:2013-14 |
1207 |
30.3 |
3.4 |
66.3 |
26.8 |
|
|
|
|
Q3:2013-14 |
1223 |
29.7 |
3.6 |
66.8 |
26.1 |
22.5 |
2.7 |
74.8 |
19.8 |
Q4:2013-14 |
1114 |
28.7 |
3.5 |
67.9 |
25.2 |
25.3 |
3.2 |
71.5 |
22.1 |
Q1:2014-15 |
1293 |
38.5 |
3.1 |
58.4 |
35.4 |
31.8 |
2.8 |
65.4 |
28.9 |
Q2:2014-15 |
|
|
|
|
|
30.2 |
2.1 |
67.7 |
28.1 |
‘Increase in Salary/other remuneration’ is optimistic. |
Table 18: Business Expectation Index (BEI) |
Quarter |
BEI-Assessment Quarter |
BEI-Expectation Quarter |
Q1:2013-14 |
101.2 |
111.6 |
Q2:2013-14 |
97.3 |
112.7 |
Q3:2013-14 |
98.8 |
109.9 |
Q4:2013-14 |
104.3 |
112.7 |
Q1:2014-15 |
105.2 |
111.1 |
Q2:2014-15 |
|
114.7 |
|