Business confidence falls to 48 in October

Business confidence in Pakistan declined again in October, with the overall Business Confidence Index losing 1.1 points to reach 48, according to the latest State Bank of Pakistan survey reported by Mettis Global. Services sentiment weakened, taking that sector’s index down 1.6 points to 47.7, while the industry reading rose 0.2 points to 48.7.

The Purchasing Managers Index fell 1.4 points to 51.8, remaining above the neutral level. Order books were the only PMI component to improve, reaching 51.9; business activity and employment measures declined. Businesses’ aggregate inflation expectations eased to 7.1 from 7.7, while manufacturing capacity use increased to 67.9% from 64.8%. The survey covered 491 respondents between October 1 and 14.