THE IJG Business Climate Index recovered slightly in May after its abrupt slowdown in April. The index now stands at 158,8 points up from 153,8.
This reversal was largely driven by the building plan indices. On a monthly basis, the investment index and leading indicator both expanded alongside the overall index. The consumption, export and coincident indicators, however, all contracted. On a quarterly basis, all of the indicators contracted in the second quarter when compared to the first quarter. This was largely due to the abnormally high base set in the first quarter, primarily because of the oil price decline witnessed through the period.
...