The Industrial Outlook Survey conducted during July-September 2014, provides qualitative assessment of business situation of companies in the Indian manufacturing sector for Q2:2014-15 and their expectations for the ensuing quarter Q3:2014-15. The survey elicited early response from 1,225 manufacturing companies.
Highlights:
Summary Table: Net response1 (NR in %) comparison over previous quarter |
Assessment period |
Expectation period |
Parameters |
Q1:2014-15 |
Q2:2014-15 |
Parameters |
Q2:2014-15 |
Q3:2014-15 |
Improved positivity: |
|
|
Increased optimism: |
|
|
i. Capacity Utilisation |
6.0 |
7.1 |
i. Production |
33.7 |
34.5 |
ii. Exports |
10.5 |
12.4 |
ii. Order Books |
29.1 |
31.6 |
iii. Imports |
9.3 |
12.7 |
iii. Capacity Utilisation |
19.4 |
19.9 |
iv. Production |
17.2 |
18.5 |
iv. Imports |
15.0 |
25.9 |
v. Employment |
5.4 |
6.3 |
v. Employment |
8.9 |
11.2 |
vi. BEI |
105.2 |
106.4 |
vi. Selling price |
12.5 |
13.3 |
Reduced concern: |
|
|
vii. Profit Margin |
-2.3 |
1.0 |
i. Cost of Finance |
-22.2 |
-18.5 |
viii. BEI |
114.7 |
117.7 |
ii. Cost of Raw Material |
-49.5 |
-44.7 |
|
|
|
|
|
|
Reduced pessimism: |
|
|
|
|
|
i. Cost of Raw Material |
-42.1 |
-39.2 |
Decline in positivity: |
|
|
Reduced optimism: |
|
|
i. Order Books |
16.4 |
15.4 |
i. Availability of Finance |
20.6 |
19.7 |
ii. Availability of Finance |
12.4 |
12.1 |
ii. Exports |
21.4 |
20.9 |
iii. Selling Price |
9.8 |
6.8 |
|
|
|
iv. Profit Margin |
-15.1 |
-15.3 |
|
|
|
No Change: |
|
|
No Change: |
|
|
|
|
|
i. Cost of Finance |
-17.2 |
-17.2 |
 Expectation (Q3:2014-15)
- Business outlook of the Indian manufacturing sector as inferred from movements in Business Expectation Index2 (BEI) shows improvement for Q3:2014-15 (117.7) as compared to previous quarter (114.7). This increase in composite index is due to higher optimism in capacity utilisation, imports, production and cost of raw material.
Assessment (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 (106.4) as compared to previous quarter (105.2).
-
The improved positivity is mainly due to capacity utilisation, exports, imports, cost of finance and cost of raw material.
Table 1: Assessment & Expectation for Production |
(Percentage responses)@ |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response# |
Increase |
Decrease |
No change |
Net response |
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 |
20.2
|
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 |
1225 |
35.2 |
16.7 |
48.1 |
18.5 |
43.4 |
9.7 |
46.8 |
33.7 |
Q3:2014-15 |
|
|
|
|
|
43.6 |
9.8 |
47.3 |
34.5 |
‘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 & Expectation for Order Books |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
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 |
1225 |
31.2 |
15.8 |
53.0 |
15.4 |
38.2 |
9.1 |
52.6 |
29.1 |
Q3:2014-15 |
|
|
|
|
|
40.0 |
8.4 |
51.6 |
31.6 |
‘Increase’ in order books is optimistic. |
Table 3: Assessment & 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 |
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 |
1225 |
16.8 |
4.2 |
79.1 |
12.6 |
12.3 |
5.7 |
82.0 |
6.5 |
Q3:2014-15 |
|
|
|
|
|
11.8 |
5.2 |
83.1 |
6.6 |
Pending orders ‘Below Normal’ is optimistic. |
Table 4: Assessment & Expectation for Capacity Utilisation |
(Percentage responses) |
Parameter |
Options |
Assessment |
Expectation |
Q2:2013-14 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q2:2014-15 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q2:2014-15 |
Q3:2014-15 |
Capacity Utilisation (CU)-(main product) |
Increase |
20.7 |
20.7 |
24.9 |
22.3 |
23.8 |
26.8 |
27.2 |
23.8 |
29.5 |
29.5 |
No Change |
58.6 |
59.9 |
60.1 |
61.3 |
59.5 |
60.6 |
61.9 |
63.6 |
60.4 |
60.9 |
Decrease |
20.7 |
19.4 |
15.0 |
16.3 |
16.7 |
12.6 |
10.9 |
12.6 |
10.1 |
9.6 |
Net Response |
0.0 |
1.3 |
9.9 |
6.0 |
7.1 |
14.2 |
16.3 |
11.2 |
19.4 |
19.9 |
Level of CU (compared to the average in last 4 quarters) |
Above normal |
8.9 |
8.5 |
10.1 |
10.3 |
8.7 |
9.8 |
11.1 |
9.7 |
10.6 |
10.0 |
Normal |
70.7 |
69.7 |
72.2 |
71.8 |
72.3 |
75.0 |
73.4 |
75.4 |
76.6 |
77.3 |
Below Normal |
20.4 |
21.8 |
17.6 |
17.9 |
19.0 |
15.2 |
15.5 |
14.9 |
12.7 |
12.7 |
Net Response |
-11.5 |
-13.3 |
-7.5 |
-7.6 |
-10.3 |
-5.3 |
-4.4 |
-5.2 |
-2.1 |
-2.7 |
Assessment of Prod. Capacity (with regard to expected demand in next 6 months) |
More than adequate |
15.0 |
14.7 |
13.9 |
13.8 |
13.3 |
14.8 |
15.7 |
13.4 |
12.9 |
13.0 |
Adequate |
77.0 |
76.6 |
77.9 |
78.1 |
78.7 |
78.0 |
77.6 |
79.5 |
80.3 |
80.9 |
Less than adequate |
8.1 |
8.7 |
8.2 |
8.1 |
8.0 |
7.1 |
6.8 |
7.1 |
6.8 |
6.1 |
Net Response |
6.9 |
5.9 |
5.7 |
5.7 |
5.3 |
7.7 |
8.9 |
6.3 |
6.1 |
6.9 |
‘Increase’ in capacity utilisation is optimistic. |
Table 5: Assessment & Expectation for Exports |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
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 |
1225 |
25.6 |
13.2 |
61.2 |
12.4 |
29.9 |
8.5 |
61.5 |
21.4 |
Q3:2014-15 |
|
|
|
|
|
28.5 |
7.6 |
63.9 |
20.9 |
‘Increase’ in exports is optimistic. |
Table 6: Assessment & Expectation for Imports |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
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 |
1225 |
20.9 |
8.2 |
70.9 |
12.7 |
21.2 |
6.2 |
72.6 |
15.0 |
Q3:2014-15 |
|
|
|
|
|
19.4 |
6.5 |
74.1 |
25.9 |
‘Increase’ in imports is optimistic. |
Table 7: Assessment & Expectations for level of Inventory (Raw Material and Finished Goods) |
(Percentage responses) |
Parameter |
Options |
Assessment |
Expectation |
Q2:2013-14 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q2:2014-15 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q2:2014-15 |
Q3:2014-15 |
Inventory of raw material |
Below average |
8.7 |
8.3 |
7.7 |
7.2 |
8.4 |
6.3 |
5.3 |
6.7 |
6.4 |
6.1 |
Average |
78.7 |
78.9 |
79.2 |
80.2 |
79.4 |
83.6 |
83.7 |
83.6 |
83.7 |
84.0 |
Above average |
12.6 |
12.8 |
13.2 |
12.6 |
12.3 |
10.1 |
11.0 |
9.7 |
9.9 |
9.9 |
Net Response |
-3.8 |
-4.6 |
-5.5 |
-5.4 |
-3.9 |
-3.9 |
-5.8 |
-3.1 |
-3.5 |
-3.8 |
Inventory of finished goods |
Below average |
7.5 |
7.3 |
7.7 |
6.7 |
7.5 |
6.2 |
6.6 |
7.6 |
6.4 |
6.7 |
Average |
77.0 |
75.3 |
76.9 |
79.1 |
76.7 |
82.5 |
80.8 |
81.8 |
82.9 |
82.6 |
Above average |
15.5 |
17.4 |
15.4 |
14.1 |
15.8 |
11.3 |
12.6 |
10.6 |
10.8 |
10.8 |
Net Response |
-8.1 |
-10.2 |
-7.6 |
-7.4 |
-8.3 |
-5.0 |
-6.0 |
-3.0 |
-4.4 |
-4.1 |
Inventory of raw material and finished goods ‘Below average’ is optimistic. |
Table 8: Assessment & Expectations for Employment Outlook |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
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 |
1225 |
14.6 |
8.3 |
77.1 |
6.3 |
15.2 |
6.2 |
78.6 |
8.9 |
Q3:2014-15 |
|
|
|
|
|
16.6 |
5.4 |
78.0 |
11.2 |
‘Increase’ in employment is optimistic. |
Table 9: Assessment & Expectation for Overall Financial Situation |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Better |
Worsen |
No change |
Net response |
Better |
Worsen |
No change |
Net response |
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 |
1225 |
27.2 |
12.3 |
60.5 |
14.9 |
33.6 |
6.8 |
59.6 |
26.8 |
Q3:2014-15 |
|
|
|
|
|
36.0 |
6.2 |
57.8 |
29.8 |
‘Better’ overall financial situation is optimistic. |
Table 10: Assessment & 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 |
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 |
1225 |
30.5 |
6.0 |
63.5 |
24.5 |
33.5 |
5.0 |
61.5 |
28.5 |
Q3:2014-15 |
|
|
|
|
|
31.7 |
4.8 |
63.5 |
26.9 |
‘Increase’ in working capital finance is optimistic. |
Table 11: Assessment & Expectation for Availability of Finance |
(Percentage responses) |
Parameter |
Options |
|
Assessment |
Expectation |
Q2:2013-14 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q2:2014-15 |
Q3:2013-14 |
Q4:2013-14 |
Q1:2014-15 |
Q2:2014-15 |
Q3:2014-15 |
Availability of finance (from internal accruals) |
Improve |
18.3 |
20.3 |
21.9 |
23.1 |
23.5 |
23.2 |
25.0 |
23.4 |
26.7 |
26.5 |
No Change |
66.4 |
66.9 |
67.1 |
66.3 |
65.7 |
67.6 |
68.5 |
69.2 |
67.3 |
66.8 |
Worsen |
15.2 |
12.7 |
11.0 |
10.6 |
11.1 |
9.2 |
6.6 |
7.4 |
6.1 |
6.8 |
Net Response |
3.1 |
7.6 |
10.8 |
12.4 |
12.1 |
14.0 |
18.4 |
16.0 |
20.6 |
19.7 |
Availability of Finance(from banks & other sources) |
Improve |
14.2 |
17.1 |
18.2 |
20.1 |
18.8 |
18.2 |
19.0 |
20.5 |
21.5 |
20.8 |
No Change |
75.6 |
74.5 |
72.4 |
72.3 |
74.4 |
75.6 |
76.2 |
73.6 |
74.7 |
75.1 |
Worsen |
10.3 |
8.4 |
9.3 |
7.6 |
6.8 |
6.2 |
4.8 |
5.9 |
3.8 |
4.2 |
Net Response |
3.9 |
8.7 |
8.9 |
12.5 |
12.0 |
12.0 |
14.2 |
14.6 |
17.6 |
16.6 |
Availability of Finance (from overseas, if applicable) |
Improve |
7.6 |
10.4 |
10.9 |
9.9 |
8.8 |
8.9 |
11.9 |
11.8 |
12.2 |
10.8 |
No Change |
84.6 |
83.1 |
83.4 |
84.8 |
86.1 |
85.0 |
84.2 |
83.6 |
84.8 |
86.3 |
Worsen |
7.8 |
6.5 |
5.7 |
5.3 |
5.1 |
6.0 |
3.9 |
4.6 |
3.0 |
2.9 |
Net Response |
-0.1 |
3.9 |
5.2 |
4.6 |
3.7 |
2.9 |
8.1 |
7.2 |
9.1 |
7.9 |
‘Improvement’ in availability of finance is optimistic. |
Table 12: Assessment & Expectation for Cost of Finance |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Decrease |
Increase |
No change |
Net response |
Decrease |
Increase |
No change |
Net response |
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 |
1225 |
6.5 |
25.0 |
68.6 |
-18.5 |
6.0 |
23.2 |
70.8 |
-17.2 |
Q3:2014-15 |
|
|
|
|
|
5.6 |
22.8 |
71.6 |
-17.2 |
Decrease’ in cost of finance is optimistic. |
Table 13: Assessment & 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 |
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 |
1225 |
4.6 |
49.3 |
46.2 |
-44.7 |
3.7 |
45.8 |
50.6 |
-42.1 |
Q3:2014-15 |
|
|
|
|
|
4.3 |
43.5 |
52.2 |
-39.2 |
‘Decrease’ in cost of raw material is optimistic. |
Table 14: Assessment & Expectation for Selling Price |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
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 |
1225 |
20.1 |
13.3 |
66.6 |
6.8 |
20.6 |
8.0 |
71.4 |
12.5 |
Q3:2014-15 |
|
|
|
|
|
20.5 |
7.2 |
72.3 |
13.3 |
‘Increase’ in selling price is optimistic. |
Table 15: Assessment & Expectation for Profit Margin |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
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 |
1225 |
12.6 |
27.9 |
59.4 |
-15.3 |
18.0 |
20.3 |
61.7 |
-2.3 |
Q3:2014-15 |
|
|
|
|
|
18.9 |
17.9 |
63.2 |
1.0 |
‘Increase’ in profit margin is optimistic. |
Table 16: Assessment & Expectation for Overall Business Situation |
(Percentage responses) |
Quarter |
Total response |
Assessment |
Expectation |
Better |
Worsen |
No change |
Net response |
Better |
Worsen |
No change |
Net response |
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 |
1225 |
34.6 |
12.6 |
52.8 |
22.0 |
43.9 |
7.0 |
49.1 |
37.0 |
Q3:2014-15 |
|
|
|
|
|
45.4 |
5.7 |
48.9 |
39.7 |
‘Better’ Overall Business Situation is optimistic. |
Table 17: Assessment & 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 |
1225 |
32.5 |
3.0 |
64.4 |
29.5 |
30.2 |
2.1 |
67.7 |
28.1 |
Q3:2014-15 |
|
|
|
|
|
24.0 |
2.4 |
73.6 |
21.6 |
‘Increase in Salary / other remuneration’ is optimistic. |
Table 18: Business Expectation Index (BEI) |
Quarter |
BEI-Assessment Quarter |
BEI-Expectation Quarter |
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 |
106.4 |
114.7 |
Q3:2014-15 |
|
117.7 |
|