Business confidence falling

Manufacturing News, Source : TheManufacturer.com
Published : 04 Nov 2002 10:15

A report released by analysts BDO Stoy Hayward shows several factors are combining to produce a cocktail of gloom about the immediate prospects for the economy.

The stock market slump, terrorism, uncertainty over a possible war with Iraq and the consequent unpredictability of oil prices are all conspiring to adversely affect business confidence.

The BDO report, an average of major business surveys over the last three months, predicts economic growth of only 1.3 per cent by the middle of next year and calls for a quarter per cent reduction in interest rates to stimulate economic activity.

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