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Mumbai, May 13, 2022: The Dun & Bradstreet Composite Business Optimism Index stands at 96.6 for Q2 2022, a rise of 7.4% compared to Q1 2022. All six of the six optimism indices have registered an increase, compared to Q1 2022. The Dun & Bradstreet Composite Business Optimism Index, which has been measuring the changing business sentiment of India Inc. since 2002, is a leading indicator for India’s overall growth with a correlation co-efficient of 80% with the Gross Domestic Product (GDP).
Highlights
Dun & Bradstreet's Composite Business Optimism Index: Q2 2003 – Q2 2022
Note: BOI Index is for new base (2011)
Arun Singh, Global Chief Economist, Dun & Bradstreet said: “Amidst current heightened geopolitical uncertainty, optimism of firms in India in Q2 2022 surged to the highest level in 11 years, as recorded by our index. Resumption of business activity has gathered pace following the the third COVID wave experienced in India, with mobility increasing to above pre-COVID levels.”
He continued: “Both GST collections and exports growth were at an all-time high in March 2022 when the survey was conducted. Demand also remained resilient and E-way bills surged to 48-month high. Contrary to expectations that firm-level profitability would be negatively impacted by geo-political risk, our survey reveals that firms are confident they will record strong profits. Optimism around net profit was at the highest level it’s been in five quarters. Firms are likely to hire at an increased pace as their optimism for hiring workforce is also at a 11-year high, reflecting the buoyancy of the economy.”
“Nonetheless, risk remains elevated. Optimism for selling price is the highest since Q2 2012 indicating that retail prices will gain further momentum. The protracted geopolitical tension and the sanctions on Russia, in addition to already existing supply chain disruptions, are likely to set back global growth recovery, and might temper future business optimism levels,” Singh concluded.
Key findings from the Q2 2022 survey:
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