IJG Business Climate Index rebounds in February

Following two months in the negative, the IJG Business Climate Index rebounded in February, increasing by more than 11 points. However, the survey revealed a rather subdued business environment among respondents, manufacturers in particular, Institute for Public Policy Research (IPPR), which produces the Index said this week.
The IJG Business Climate Index for February increased by 11.2 points rising to 125.5 in February from 114.3 at the end of January.

The IPPR said an increase in corporate registrations, metal prices and trading on the NSX during the month helped steer the overall index in a positive direction. The Investment Index and Leading Indicator rose substantially aided by prevailing low interests and the expansion that is anticipated for the OECD area. The IJG Business Climate Survey asks 50 top businesses in Namibia across all major sectors of the economy to reply to four questions on revenues, employment, investment and prevailing business conditions.

In addition, members of the Namibian Manufacturers Association (NMA) were also surveyed. February’s survey response rate was very poor with only 24 businesses that included nine manufacturers responding.