A recent survey conducted by Gallup Pakistan indicates a 42% increase in business owners’ confidence regarding prospects, compared to the preceding quarter.
The Gallup Business Confidence Index report for the third quarter of 2023 reveals that fewer business owners hold pessimistic views about future conditions and the country’s direction compared to the second quarter.
While a sense of business insecurity persists due to ongoing economic and political crises, the survey notes a more positive outlook among businesses regarding their future.
Concerns such as inflation, utility bills, and political instability continue to contribute to business uncertainty, although fewer businesses express hopelessness than in the previous quarter.
Surprisingly, businesses demonstrate optimism in their expectations for future conditions, with 61% expressing positive outlooks and 38% anticipating a worsening situation. The net future business confidence score has improved by 42% since the spring, reaching 22%.
Perceptions about the country’s direction have also shown improvement over the last two quarters, with 26% of respondents expressing the belief that Pakistan is heading in the right direction.
Despite these positive trends, the overall confidence of the business community remains low due to persistent economic crises in 2022.
Economic insecurity in the country has worsened since the beginning of the year, but the business situation score has improved by 25 percentage points, according to the survey.
Â
This surge in confidence suggests that businesses are more optimistic about economic conditions and their prospects moving forward. Such positive sentiment can have various implications, including potential increases in investments, expansions, and overall economic activity.
The Gallup survey suggests that there has been a notable increase in business confidence in Pakistan, with a 42% improvement in the outlook for the future compared to the previous quarter. This positive trend is reflected in a reduced pessimism among business owners regarding future conditions and the direction of the country.
The rise in business confidence by 42% according to Gallup Pakistan’s survey is a positive sign amid economic challenges. Despite ongoing concerns about inflation and political instability, the increased optimism in business owners’ expectations for the future is noteworthy.
Business confidence experiences a robust 42% surge, fueled by optimistic forecasts for the future and elevated expectations.
Turn corners into canvases, paint with your tires.
I am happy to find it. It’s a great post.
This is excellent article, thank you for the share! This is what I am looking for, hope in future you will continue sharing such an superb work.