Business confidence stuck in doldrums
The business climate index has so far been below 50 points for the entire 2017, indicating economic contraction.
Staff reporter - The IJG Business Climate Monitor (BCM) continued its downward trend in September, falling to 43.82 points, 0.27 lower than the previous month.
The business climate index has so far been below 50 points for the entire 2017, indicating economic contraction. The index is now at its lowest level since December 2003.
According to the latest BCM, complied by the Institute of Public Policy Research (IPPR), the leading indicator – a benchmark for business expectations - remained unchanged in September.
“The slight decrease in the BCM, coupled with the flat leading indicator, suggests some moderation of the economic downturn,” the IPPR says.
Of the 31 indicators measured by the index, 14 showed improvement while the remaining 17 deteriorated.
The number of livestock fell by 30%, or almost 16 000 cattle, compared to August. However, year to date has seen 100 000 more cattle marketed in 2017 than in 2016.
The growth seen in some commodity prices this year made an about-turn in September, the IPPR says.
In US dollar terms, copper prices fell by 5%, while gold and diamond prices fell by 3% and 2% respectively. Uranium remained flat.
A 4% depreciation in the US$/rand exchange rate saw the prices remain flat in Namibia dollar terms, except for uranium, which rose by 5%.
Inflation picked up to 5.6% year-on-year, due in part to a 30c increase in fuel prices.
Private sector credit extension rose by 0.32% month-on-month and 5.24% year-on-year, compared to higher growth of 6.35% seen in August.
Building plans printed flat on a monthly basis. However, year to date N$1.83 billion of building plans have been approved, an increase of 17.4% year-on-year.
The business climate index has so far been below 50 points for the entire 2017, indicating economic contraction. The index is now at its lowest level since December 2003.
According to the latest BCM, complied by the Institute of Public Policy Research (IPPR), the leading indicator – a benchmark for business expectations - remained unchanged in September.
“The slight decrease in the BCM, coupled with the flat leading indicator, suggests some moderation of the economic downturn,” the IPPR says.
Of the 31 indicators measured by the index, 14 showed improvement while the remaining 17 deteriorated.
The number of livestock fell by 30%, or almost 16 000 cattle, compared to August. However, year to date has seen 100 000 more cattle marketed in 2017 than in 2016.
The growth seen in some commodity prices this year made an about-turn in September, the IPPR says.
In US dollar terms, copper prices fell by 5%, while gold and diamond prices fell by 3% and 2% respectively. Uranium remained flat.
A 4% depreciation in the US$/rand exchange rate saw the prices remain flat in Namibia dollar terms, except for uranium, which rose by 5%.
Inflation picked up to 5.6% year-on-year, due in part to a 30c increase in fuel prices.
Private sector credit extension rose by 0.32% month-on-month and 5.24% year-on-year, compared to higher growth of 6.35% seen in August.
Building plans printed flat on a monthly basis. However, year to date N$1.83 billion of building plans have been approved, an increase of 17.4% year-on-year.
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