Thursday, May 8 2014 18:17
Aggregated business climate index of Armenia rose to 55.7 points in Q1 2014
ArmInfo. Starting from Q1 2014, the Central Bank of Armenia (CBA) will calculate and publish a single indicator of business climate, which is an aggregation of the earlier calculated business activity index and business climate index. Martin Galstyan, Head of the Statistics Department at the CBA, said at today's seminar that the new indicator of the country's business environment will be called a business climate index and will be calculated according to the methodology of the Organisation for Economic Co-operation and Development (OECD).
Galstyan pointed out that in Q1 2014 the business climate index calculated by the new methodology made up 55.7 points, having risen by 4.4 points as compared with the previous quarter. It is inexpedient to compare the index with last year's index due to incommensurability. The quarterly growth of the business climate index was due to the rise of all its components. In particular, the business climate index in industry rose by 3.5 points to 56.3; the index in trade grew by 5 points to 56.8; the index in services rose by 2.9 points to 55. The most dynamic growth of the business climate index was in construction - by 6.9 points to 54.5.
The CBA quarterly calculates the business environment indices in the country on the basis of surveys conducted at the enterprises engaged in industry, construction, trade and services. The calculation is made by averaging the actual estimates and expectations of the respondents about the production output and demand for the products (or services) and reserves. Certain lists of questions are prepared for each of the sectors and sub-indices are prepared on their basis. The sub-indices are averaged and form the final indicators of business optimism. The goal is to define the current business environment and its prospects. The CBA has been conducting this survey among 1000 respondents since 2005.
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