Business confidence declines to record low

agiThe Business Barometer Report by the Association of Ghana Industries has revealed Business confidence has declined to a record low in the first quarter of 2014, the first time in the past 4 years.

The business barometer report measures the level of confidence in the business environment and predicts short-term business trend.

The first quarter of the year recorded a decline in the confidence index to a little above 90.

This is a shortfall from the base index of a hundred.The index dropped from the 102 recorded the last quarter of 2013.

The last time the confidence was this low was in the second quarter of 2010.

The AGI indicates the confidence has from the first quarter of last year been dropping except for the third quarter where there was additional power to the national grid and election petition at the Supreme Court ended.

The construction sector recorded the lowest confidence level having recorded an index of 81 points. This was attributed to delays in payment for jobs done by contractors.

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