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Our Bureau

New Delhi , Aug. 24

SEVENTY seven per cent of the 478 companies that participated in the Federation of Indian Chamber of Commerce and Industry's Q1 Business Confidence Survey have rated the present state of the economy as "moderately to substantially" better as compared to the conditions prevailing in the last six months.

While 20 per cent saw no perceptible change on the overall macro front, another three per cent rated the present conditions "moderately to substantially" worse compared to the last two quarters of the last fiscal.

A substantial 74 per cent of the companies look forward to a much better performance in their respective industry segments in the near future.

While 19 per cent expect their industries to maintain current levels of performance, 8 per cent foresaw a slide.

Sector-wise, the services sector is the most upbeat about current indicators compared to the manufacturing and agriculture sectors.

Eighty eight per cent of the companies in this segment say their industry is performing "moderately to substantially" better when compared to the last six months.

At individual company level too, 70 per cent of the respondents reported a "moderately to substantially" better current performance compared to the last six months, while 24 per cent reported sustained performance.

On expected performance, as much as 81 per cent looked forward to a "moderately to substantially" better performance in the coming six months, with 15 per cent foreseeing no change in performance.

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