Business sentiment for January-March 2021

Share of respondents seeing a subdued SQ14 jumps to 29% in manufacturing, 36% in services

S14 findings need to be viewed in the context of a gradual increase in the number of infections as the second wave of Covid-19 took hold, amid a slight pick-up in economic activity, in the fourth quarter last fiscal. In the first quarter this fiscal, the second wave affected recovery of major sectors, and this has been factored into the calls.

Sectors with positive trend

• Among manufacturers, 26% reported a good SQ14, lower than 31% in SQ13, but higher than 16% in the same quarter a year ago (SQ10)
  
  • In SQ14, highest share of respondents in food products, pharmaceuticals and auto components sectors reported agood quarter
    
  • On-year (SQ10 vis-à-vis SQ14), metals & mining, and auto components reported the sharpest rise in share ofrespondents with positive sentiment
    
• Among service providers, 20% reported a good SQ14, lower than 28% in SQ13, but higher than 11% in SQ10
  
  • In SQ14, highest share of respondents from healthcare providers & services, and logistics sectors reported a good quarter
    
  • On-year (SQ10 vis-à-vis SQ14), share of respondents with positive sentiment was highest in the logistics sector and among traders