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Macro data buoys biz confidence
CII’s business confidence index rises to 67.1 in Sept qtr from 66.1 in June qtr
Uptick
♦ GST collection, air & rail passenger traffic, PMIs, others indicate robust economy
♦ Biz confidence index was 62.2 in June qtr/FY23
♦ Rural demand increasing
New Delhi: CII’s business confidence index improved to 67.1 in the July-September quarter of FY24, reflecting robust macro fundamentals of India’s economy despite global headwinds, the industry body said on Sunday. The index showed a reading of 66.1 in the previous quarter (April-June FY24) and 62.2 in the same quarter last year.
“The reading reaffirms the sustained positive momentum seen in host of high frequency indicators such as GST collection, air & rail passenger traffic, PMIs, among others in the second quarter,” said the Confederation of Indian Industry (CII).
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