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Friday, October 05, 2007

Business sentiments improve

The June Business Expectations Survey conducted by the Reserve Bank of Fiji (RBF) revealed that respondents expect business conditions to improve in the next 12 months.

Read more in a Fiji Times article below.

"Business sentiments improve: RBF, Friday, October 05, 2007

The June Business Expectations Survey shows relatively more respondents expect business conditions to improve in the next 12 months, says the Reserve Bank of Fiji in its September economic review.

The RBF says the results of latest business surveys suggest a gradual recovery in business sentiments since December.

The review said while trade gap had improved so far this year, the exports sector had not recovered significantly and import, while declining, remain more than double the value of exports.

At the end of August, the official foreign reserves level stood at $865.7million (provisional), sufficient to cover four months of goods imports.

The bank said inflation rate had now eased for two consecutive months.

Apart from the lower price of transport items, the improved supply of market produce continues to have an easing impact on prices, the bank said.

Inflation stood at 5.1 per cent in August compared to 6.4 per cent registered in July. The bank said year end inflation might turn out to be lower than the current forecast of 7 per cent.

Furthermore, the review said labour market conditions remained weak, as low confidence in the private sector continued to have a dampening impact on recruitment intentions.

Cumulative to August, hiring intentions, as measured by the RBF job advertisements survey, fell by around 8.5 per cent over the corresponding period last year. The review said weaker employment prospects were noted in several sectors including finance, insurance, real estate and business services, mining and quarrying, electricity, water and construction."

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