Business Sentiment Declining

The IJC Business Climate Index, which tracks business sentiment, declined for a second consecutive month in April, falling 2.5 basis points (bps) from a month earlier to 118.4. A fall in confidence was recorded across all sub-indices, while the local leading indicator, which fell by 10.2bps, was the hardest hit. Elsewhere, the investment sub-index fell 5.5bps to 149.0 as private sector borrowing declined, company registrations fell and the construction sector had to deal with a 12% decline in approved building plans. Meanwhile, the consumption sub-index, which reached a 30 month high of 95.2bps in March, shared a similar fate, dropping 4bps in April.

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