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Good harvests and rising incomes fuel optimism
The Business Guardian
|July 18, 2024
Dun & Bradstreet, a global leader in business decisioning data and analytics, has released its Composite Business Optimism Index for the third quarter of 2024, showcasing a notable increase to 78.9, marking a 3.9% rise from the previous quarter.
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This index, a key indicator of business sentiment across India, has been instrumental since 2002 in forecasting the country’s economic trajectory, boasting a strong correlation of around 80% with the Gross Domestic Product (GDP).
Key Highlights from the Q3 2024 Survey:
Optimism for Net Profits: Business optimism regarding net profits has reached its highest point in nine quarters, indicating robust confidence among Indian enterprises in their profitability outlook.
Optimism for Sales: Optimism for net sales has surged to a seven-quarter high, buoyed by high consumption levels and a revival in rural demand driven by favourable monsoon forecasts.
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