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Business Confidence Reading for India Below Average for Next 12 Months
July 23, 2018
According to a recent HIS Markit Business Outlook Survey, the majority of businesses in India don’t feel confident about market growth with strong cost pressures and increasing fuel prices two of the major deterrents.
As per the report, only 20% of Indian businesses expect growth in output in the next 12 months. The same for Brazil, Russia, India, and China (BRIC) stood at 23%, and globally at 31%.
Despite the pessimistic outlook of the businesses in India, hiring intentions remain positive especially in the manufacturing sector.
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