THE IJG Business Climate Index declined by 5,5 index points in March to reach 142.4 basis points. In February, the index declined by one point when compared to January.
The Institute of Public Policy Research (IPPR) said having topped out at a record high in November, the index has now been trending downward since then. The March decline was driven by a number of factors. Firstly, commodity prices for meat, fish and metals declined. The meat price decline is seen to be seasonal, and the price is expected to increase through the latter part of 2014, as supply constraints bite following the drought of 2013.
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