Current business situation score on Gallup Business Confidence Index improves
Largely pessimistic about the future, more of the country’s business owners now have developed a better perception of their businesses as the government of Prime Minister Shehbaz Sharif is trying to revive the cash-strapped economy. A latest Gallup survey conducted in the first quarter this year finds that 47% of Pakistan’s businesses, especially those selling garments, commodities, stationery and gift items, perceive themselves to be in a bad or worse conditions. This shows a three percent improvement over the previous quarter.
The current business situation score on Gallup Business Confidence Index has improved by seven percentage points to 6% in 1Q2024 from -1% in the previous quarter, noted Gallup Pakistan Survey report. “While economic security has not fully stabilized due to the ongoing political situation, the business situation score has improved regardless,” it said. It said while the current business score on Gallup Business Confidence Index continued to recover for the fifth straight quarter, the future business score and direction of the country score see a reversal. Asked about their expectations for future business conditions, the businessmen were pessimistic about the future as the net future business confidence score has worsened by 16% since last quarter and now stands at 4%, according to the survey report.
