Issue 58 (COVID-19 Special)

With new variants of Coronavirus emerging, the Business Barometer Index continued (BBI) to decline in FY 2020/2021 Q3 (January-March 2021), scoring 47 points (three points below the neutral level). The surveyed firms reported holding back on expansion plans (adding new production lines or introducing new products/ technology) due to the current conditions. Declined performance during this quarter was driven by a drop in domestic sales and exports caused by stagnant demand and the suspension of exports, dragging down production and capacity utilization. Analyzing the BBI by firm size, it is clear that the performance of all firms (large, small and medium) alike has declined for the second quarter in a row due to COVID-19 crisis.