Business Optimism Dips at the Start of 2018

The Central Statistics Agency (BPS) estimates that the Business Tendency Index (ITB), or business optimism, in the first quarter of 2018 continued to grow, although lower than in the fourth quarter of 2017. This is reflected in the ITB in the first quarter of this year, which remained above 100 but lower than the previous quarter's 111.02. Business optimism reached its highest level in the third quarter of 2017, with the ITB reaching 112.39.

Improved business conditions and business optimism occurred across all business sectors, particularly in the government administration, defense, and mandatory social security sector, which had the highest ITB value of 131.58. Meanwhile, the lowest optimism was in the agriculture, forestry, and fisheries sector, with an ITB value of 103.87.

The ITB is an indicator providing information on short-term (quarterly) business and economic conditions, obtained from the results of the Business Tendency Survey (STB). The information collected in the STB concerns the general business development over the past three months compared to the previous three months and its prospects for the next three months.