Ficci survey shows corporate India's confidence low

A FICCI survey has shown that corporate India's business confidence plunged to a 12-month low in the quarter ended June 2011 and is likely to get even worse in the next six months (July-December 2011).

The overall business confidence index value dropped to 51.6 (Q1 of 2011-12) from 63.7 registered in the previous survey (Q4 of 2010-11).

Conducted in July 2011, the survey elicited responses from 295 companies with turnover ranging from Rs 1 crore to Rs 2,50,000 crore.

The main factors hindering business performance were weak demand, rising interest costs and cost of raw materials and manpower, the survey said.

Source : Exim News Service - NEW DELHI, Sept. 8