Pakistan business confidence falls
July 16, 2021
LAHORE: Pakistan has lowered down by 14.4 points on Institute of Management Account (IMA) Global Economic Confidence Survey (GECS) in the Q2 of 2021, while the world has reported a buoyant return to economic stability.
According to the latest edition of the (the Association of Chartered Certified Accountants) ACCA and IMA Global Economic Confidence Survey (GECS), the confidence index of Pakistan has dropped between Q1 and Q2 2021 from 31.8 to 17.4 due to rising Covid infections, raising fears of restrictions that would hurt domestic activity. In addition, there is a slow rate of vaccination throughout South Asia.
Orders have also declined in Pakistan from 9.1 in Q1 to -17.4 in Q2. This is reflected across other South Asia markets, the only region to record a fall in orders in this survey, albeit a modest one.