Today, the Reserve Bank released the results of 30th round of its quarterly services and infrastructure outlook survey (SIOS) conducted during Q2:2021-22. This forward-looking survey captures qualitative assessment and expectations of Indian companies in the services and infrastructure sectors on a set of business parameters relating to demand conditions, price situation and other business conditions. 788 companies provided their assessment for Q2:2021-22 and expectations for Q3:2021-22 in the latest round of the survey1. Owing to uncertainties emanating from the COVID-19 pandemic, an additional block was included in this round of the survey for assessing the outlook on key parameters for two quarters ahead as well as three quarters ahead. Highlights: A. Services Sector Assessment for Q2:2021-22 -
Services sector enterprises reported a rebound in turnover as well as overall business situation during Q2:2021-22 after a sharp decline in Q1:2021-22 due to second wave of the pandemic (Chart 1 and Table A). -
Sentiments on employment conditions improved during Q2:2021-22 after contraction in the previous quarter. -
Respondents reported improvement in overall financial situation and availability of finance. -
Pressures from cost of finance, input costs and salary outgo are assessed to have led to higher cost burden in Q2:2021-22 but some rise in selling prices helped turning the sentiments on profit margins positive. Expectations for Q3:2021-22 -
Overall business situation, turnover and employment conditions are expected to improve further (Chart 1). -
Respondents expect improved availability of finance in Q3:2021-22. -
Cost pressures are likely to amplify and selling prices are also expected to harden in Q3:2021-22: profit margins are expected to improve. Expectations for Q4:2021-22 and Q1:2022-23 B. Infrastructure Sector Assessment for Q2:2021-22 -
Infrastructure companies also gauged a positive turnaround in their turnover as well as overall business situation from the contraction in the aftermath of the pandemic’s second wave (Chart 2 and Table B). -
Respondents assessed recovery in both full-time and part-time employment. -
Higher cost pressures kept the sentiments on profit margin subdued, although it improved over the previous quarter. Expectations for Q3:2021-22 -
Demand parameters in the infrastructure sector are expected to improve in Q3:2021-22 (Chart 2 and Table B). -
The job landscape is expected to expand further in terms of both full-time and part-time employment. -
Input cost pressures are anticipated to be higher in Q3:2021-22. Expectations for Q4:2021-22 and Q1:2022-23 Summary of Net Responses2 on Survey Parameters | Table A: Services Sector | (per cent) | Parameters | Assessment period | Expectations period | Q1:21-22 | Q2:21-22 | Q2:21-22 | Q3:21-22 | Overall Business Situation | -15.9 | 24.2 | 45.0 | 72.9 | Turnover | -19.2 | 21.0 | 40.1 | 71.3 | Full-time Employees | -6.6 | 15.6 | 30.5 | 52.9 | Part-time Employees | 4.3 | 21.2 | 39.1 | 67.6 | Availability of Finance | -11.0 | 14.4 | 35.5 | 57.2 | Cost of Finance | -3.0 | -17.9 | -37.2 | -53.3 | Salary & Wages | -5.0 | -21.7 | -32.0 | -51.7 | Cost of Inputs | -27.0 | -41.7 | -45.2 | -68.8 | Selling Price | 11.1 | 16.8 | 37.2 | 60.2 | Profit Margin | -20.0 | 0.6 | 28.9 | 48.8 | Inventories | 2.1 | 17.4 | 32.0 | 60.4 | Technical/Service Capacity | 13.7 | 27.9 | 42.7 | 73.2 | Physical Investment | 9.3 | 26.0 | 41.5 | 68.2 | Table B: Infrastructure Sector | (per cent) | Parameters | Assessment period | Expectations period | Q1:21-22 | Q2:21-22 | Q2:21-22 | Q3:21-22 | Overall Business Situation | -27.0 | 10.8 | 50.5 | 69.2 | Turnover | -30.6 | 2.9 | 43.9 | 63.3 | Full-time Employees | -16.8 | 2.5 | 32.1 | 45.8 | Part-time Employees | -3.3 | 19.6 | 49.2 | 67.3 | Availability of Finance | -22.1 | 5.8 | 38.3 | 51.9 | Cost of Finance | 5.1 | -11.8 | -41.0 | -47.2 | Salary & Wages | 3.2 | -13.3 | -37.8 | -48.7 | Cost of Inputs | -37.3 | -54.6 | -62.4 | -76.1 | Selling Price | 0.9 | 14.1 | 50.5 | 57.9 | Profit Margin | -30.8 | -9.6 | 34.7 | 43.1 | Inventories | 0.9 | 16.4 | 42.4 | 53.6 | Technical/Service Capacity | 6.0 | 25.9 | 69.6 | 80.6 | Physical Investment | 10.8 | 25.7 | 68.8 | 70.8 | Expectations of Select Parameters for extended period – Net response | (in per cent) | Table C: Services Sector | Parameter | Round 29 | Round 30 | Q2:2021-22 | Q3:2021-22 | Q4:2021-22 | Q1:2022-23 | Overall Business Situation | 45.0 | 72.9 | 74.9 | 75.6 | Turnover | 40.1 | 71.3 | 72.8 | 75.6 | Full-time Employees | 30.5 | 52.9 | 62.1 | 61.9 | Part-time Employees | 39.1 | 67.6 | 70.9 | 72.6 | Cost of Inputs | -45.2 | -68.8 | -68.3 | -68.1 | Selling Price | 37.2 | 60.2 | 65.1 | 63.1 | Table D: Infrastructure Sector | Parameter | Round 29 | Round 30 | Q2:2021-22 | Q3:2021-22 | Q4:2021-22 | Q1:2022-23 | Overall Business Situation | 50.5 | 69.2 | 68.9 | 69.7 | Turnover | 43.9 | 63.3 | 68.1 | 68.1 | Full-time Employees | 32.1 | 45.8 | 57.6 | 58.6 | Part-time Employees | 49.2 | 67.3 | 75.3 | 76.0 | Cost of Inputs | -62.4 | -76.1 | -74.3 | -73.4 | Selling Price | 50.5 | 57.9 | 58.5 | 57.4 | Note: Please see the excel file for time series data. Services Sector Table S1: Assessment and Expectation for Overall Business Situation | (Percentage responses)@ | Quarter | Assessment | Expectation | Better | No Change | Worse | Net response# | Better | No Change | Worse | Net response | Q2:20-21 | 26.4 | 42.4 | 31.1 | -4.7 | 29.0 | 43.9 | 27.1 | 1.9 | Q3:20-21 | 43.2 | 44.5 | 12.3 | 30.9 | 40.3 | 46.3 | 13.4 | 27.0 | Q4:20-21 | 39.2 | 42.4 | 18.3 | 20.9 | 50.4 | 43.7 | 5.9 | 44.5 | Q1:21-22 | 22.8 | 38.5 | 38.7 | -15.9 | 59.3 | 31.5 | 9.2 | 50.1 | Q2:21-22 | 38.7 | 46.8 | 14.5 | 24.2 | 51.9 | 41.1 | 6.9 | 45.0 | Q3:21-22 | | | | | 75.3 | 22.3 | 2.4 | 72.9 | ‘Increase’ in Overall business situation is optimistic. @: Due to rounding off percentage may not add up to 100. #: Net Response (NR) is the difference of percentage of the respondents reporting optimism and that reporting pessimism. The range is -100 to 100. Any value greater than zero indicates expansion/ optimism and any value less than zero indicates contraction/ pessimism. |
Table S2: Assessment and Expectation for Turnover | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 28.0 | 33.2 | 38.7 | -10.7 | 30.4 | 33.9 | 35.8 | -5.4 | Q3:20-21 | 43.7 | 36.3 | 20.0 | 23.7 | 40.5 | 40.2 | 19.3 | 21.2 | Q4:20-21 | 38.1 | 41.6 | 20.3 | 17.7 | 48.6 | 41.1 | 10.3 | 38.4 | Q1:21-22 | 20.5 | 39.7 | 39.7 | -19.2 | 62.3 | 29.1 | 8.6 | 53.7 | Q2:21-22 | 38.8 | 43.4 | 17.8 | 21.0 | 49.0 | 42.2 | 8.8 | 40.1 | Q3:21-22 | | | | | 75.0 | 21.4 | 3.7 | 71.3 | ‘Increase’ in Turnover is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S3: Assessment and Expectation for Full-time Employees | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 15.2 | 60.9 | 24.0 | -8.8 | 13.4 | 68.7 | 17.9 | -4.6 | Q3:20-21 | 24.9 | 59.8 | 15.3 | 9.5 | 17.0 | 70.0 | 13.0 | 4.0 | Q4:20-21 | 19.6 | 66.3 | 14.1 | 5.6 | 22.9 | 69.5 | 7.5 | 15.4 | Q1:21-22 | 14.4 | 64.6 | 21.0 | -6.6 | 35.2 | 58.2 | 6.6 | 28.7 | Q2:21-22 | 26.5 | 62.7 | 10.8 | 15.6 | 34.4 | 61.7 | 3.9 | 30.5 | Q3:21-22 | | | | | 55.5 | 41.9 | 2.6 | 52.9 | ‘Increase’ in Full-time Employees is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S4: Assessment and Expectation for Part-time Employees | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 8.3 | 68.1 | 23.6 | -15.4 | 8.5 | 70.4 | 21.2 | -12.7 | Q3:20-21 | 10.0 | 75.7 | 14.3 | -4.3 | 9.5 | 77.2 | 13.3 | -3.8 | Q4:20-21 | 16.3 | 72.1 | 11.6 | 4.7 | 15.0 | 76.7 | 8.3 | 6.6 | Q1:21-22 | 16.8 | 70.8 | 12.4 | 4.3 | 26.6 | 66.3 | 7.1 | 19.4 | Q2:21-22 | 25.3 | 70.7 | 4.0 | 21.2 | 43.2 | 52.7 | 4.1 | 39.1 | Q3:21-22 | | | | | 70.3 | 27.0 | 2.7 | 67.6 | ‘Increase’ in Part-time Employees is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S5: Assessment and Expectation for Availability of Finance | (Percentage responses) | Quarter | Assessment | Expectation | Improve | No Change | Worsen | Net response | Improve | No Change | Worsen | Net response | Q2:20-21 | 15.4 | 68.0 | 16.6 | -1.1 | 15.9 | 66.6 | 17.5 | -1.7 | Q3:20-21 | 21.3 | 68.0 | 10.7 | 10.7 | 17.7 | 69.9 | 12.4 | 5.3 | Q4:20-21 | 31.0 | 52.7 | 16.4 | 14.6 | 25.5 | 65.9 | 8.6 | 16.9 | Q1:21-22 | 14.2 | 60.6 | 25.2 | -11.0 | 47.6 | 43.9 | 8.5 | 39.1 | Q2:21-22 | 28.4 | 57.6 | 14.0 | 14.4 | 40.5 | 54.4 | 5.1 | 35.5 | Q3:21-22 | | | | | 59.8 | 37.5 | 2.6 | 57.2 | ‘Improve’ in Availability of Finance is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S6: Assessment and Expectation for Cost of Finance | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 15.1 | 69.7 | 15.1 | 0.0 | 18.1 | 68.9 | 13.0 | -5.1 | Q3:20-21 | 16.8 | 70.9 | 12.3 | -4.6 | 13.5 | 75.1 | 11.4 | -2.2 | Q4:20-21 | 19.0 | 65.9 | 15.1 | -3.9 | 17.0 | 74.6 | 8.5 | -8.5 | Q1:21-22 | 18.6 | 65.9 | 15.5 | -3.0 | 34.1 | 54.2 | 11.8 | -22.3 | Q2:21-22 | 25.8 | 66.3 | 7.9 | -17.9 | 41.2 | 54.7 | 4.1 | -37.2 | Q3:21-22 | | | | | 56.0 | 41.2 | 2.7 | -53.3 | ‘Decrease’ in Cost of Finance is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S7: Assessment and Expectation for Salary/Wages | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 16.9 | 66.4 | 16.7 | -0.3 | 15.8 | 66.2 | 18.0 | 2.3 | Q3:20-21 | 23.7 | 64.5 | 11.7 | -12.0 | 19.0 | 71.6 | 9.5 | -9.5 | Q4:20-21 | 24.5 | 67.3 | 8.3 | -16.2 | 26.4 | 67.6 | 6.0 | -20.3 | Q1:21-22 | 16.4 | 72.1 | 11.4 | -5.0 | 45.2 | 51.2 | 3.6 | -41.6 | Q2:21-22 | 29.0 | 63.6 | 7.4 | -21.7 | 34.8 | 62.5 | 2.8 | -32.0 | Q3:21-22 | | | | | 53.4 | 44.9 | 1.7 | -51.7 | ‘Decrease’ in Salary/Wages is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S8: Assessment and Expectation for Cost of Inputs | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 34.6 | 56.9 | 8.4 | -26.2 | 25.8 | 63.6 | 10.6 | -15.2 | Q3:20-21 | 33.2 | 61.5 | 5.2 | -28.0 | 30.6 | 63.1 | 6.4 | -24.2 | Q4:20-21 | 31.4 | 62.5 | 6.0 | -25.4 | 34.0 | 61.1 | 4.8 | -29.2 | Q1:21-22 | 34.6 | 57.8 | 7.6 | -27.0 | 46.0 | 51.1 | 2.9 | -43.2 | Q2:21-22 | 44.4 | 52.8 | 2.7 | -41.7 | 47.5 | 50.2 | 2.3 | -45.2 | Q3:21-22 | | | | | 69.3 | 30.3 | 0.4 | -68.8 | ‘Decrease’ in Cost of Inputs is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S9: Assessment and Expectation for Selling Price | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 6.1 | 75.1 | 18.8 | -12.6 | 6.1 | 75.4 | 18.6 | -12.5 | Q3:20-21 | 7.0 | 76.0 | 16.9 | -9.9 | 7.8 | 79.1 | 13.2 | -5.4 | Q4:20-21 | 20.4 | 62.9 | 16.7 | 3.6 | 11.3 | 77.7 | 11.0 | 0.3 | Q1:21-22 | 19.1 | 73.0 | 7.9 | 11.1 | 37.5 | 56.1 | 6.3 | 31.2 | Q2:21-22 | 24.2 | 68.4 | 7.4 | 16.8 | 39.2 | 58.9 | 1.9 | 37.2 | Q3:21-22 | | | | | 62.3 | 35.6 | 2.1 | 60.2 | ‘Increase’ in Selling Price is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S10: Assessment and Expectation for Profit Margin | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 12.4 | 45.8 | 41.9 | -29.5 | 13.4 | 48.5 | 38.1 | -24.8 | Q3:20-21 | 19.0 | 50.8 | 30.2 | -11.1 | 20.5 | 52.7 | 26.8 | -6.3 | Q4:20-21 | 20.7 | 53.1 | 26.2 | -5.6 | 21.6 | 58.3 | 20.2 | 1.4 | Q1:21-22 | 13.5 | 53.0 | 33.5 | -20.0 | 44.5 | 43.5 | 12.0 | 32.5 | Q2:21-22 | 22.4 | 55.7 | 21.9 | 0.6 | 38.6 | 51.7 | 9.7 | 28.9 | Q3:21-22 | | | | | 55.0 | 38.8 | 6.2 | 48.8 | ‘Increase’ in Profit Margin is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S11: Assessment and Expectation for Inventories | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 14.4 | 65.3 | 20.3 | -5.9 | 14.5 | 68.8 | 16.7 | -2.2 | Q3:20-21 | 17.9 | 70.2 | 11.9 | 6.0 | 15.9 | 69.6 | 14.6 | 1.3 | Q4:20-21 | 15.0 | 73.7 | 11.3 | 3.6 | 20.6 | 71.2 | 8.3 | 12.3 | Q1:21-22 | 14.4 | 73.3 | 12.3 | 2.1 | 29.6 | 61.9 | 8.5 | 21.1 | Q2:21-22 | 25.5 | 66.4 | 8.1 | 17.4 | 36.0 | 60.1 | 3.9 | 32.0 | Q3:21-22 | | | | | 62.8 | 34.8 | 2.4 | 60.4 | ‘Increase’ in Inventories is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S12: Assessment and Expectation for Technical/Service Capacity | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 12.5 | 80.6 | 6.9 | 5.6 | 13.9 | 78.6 | 7.5 | 6.3 | Q3:20-21 | 14.6 | 81.5 | 3.9 | 10.7 | 14.8 | 80.1 | 5.2 | 9.6 | Q4:20-21 | 25.5 | 70.5 | 4.0 | 21.5 | 16.8 | 79.4 | 3.8 | 13.1 | Q1:21-22 | 18.6 | 76.4 | 4.9 | 13.7 | 42.5 | 55.9 | 1.6 | 40.9 | Q2:21-22 | 29.3 | 69.3 | 1.4 | 27.9 | 44.4 | 54.0 | 1.7 | 42.7 | Q3:21-22 | | | | | 73.7 | 25.7 | 0.6 | 73.2 | ‘Increase’ in Technical/Service Capacity is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table S13: Assessment and Expectation for Physical Investment | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 8.0 | 82.7 | 9.3 | -1.4 | 13.9 | 75.3 | 10.8 | 3.2 | Q3:20-21 | 13.2 | 79.4 | 7.4 | 5.7 | 8.5 | 84.0 | 7.5 | 1.1 | Q4:20-21 | 18.0 | 76.4 | 5.6 | 12.4 | 14.0 | 80.8 | 5.2 | 8.7 | Q1:21-22 | 14.6 | 80.2 | 5.3 | 9.3 | 34.7 | 61.8 | 3.6 | 31.1 | Q2:21-22 | 27.6 | 70.8 | 1.6 | 26.0 | 42.8 | 55.9 | 1.3 | 41.5 | Q3:21-22 | | | | | 68.8 | 30.7 | 0.5 | 68.2 | ‘Increase’ in Physical Investment is optimistic. Footnotes @ and # given in Table 1 are applicable here. | Infrastructure Sector Table I1: Assessment and Expectation for Overall Business Situation | (Percentage responses)@ | Quarter | Assessment | Expectation | Better | No Change | Worse | Net response# | Better | No Change | Worse | Net response | Q2:20-21 | 25.2 | 38.6 | 36.2 | -11.0 | 29.5 | 46.7 | 23.8 | 5.7 | Q3:20-21 | 35.2 | 45.8 | 19.0 | 16.2 | 34.4 | 46.1 | 19.5 | 14.8 | Q4:20-21 | 42.0 | 36.4 | 21.6 | 20.5 | 47.1 | 43.5 | 9.4 | 37.7 | Q1:21-22 | 16.7 | 39.5 | 43.8 | -27.0 | 70.2 | 23.8 | 6.0 | 64.3 | Q2:21-22 | 35.0 | 40.8 | 24.2 | 10.8 | 56.6 | 37.4 | 6.0 | 50.5 | Q3:21-22 | | | | | 71.3 | 26.7 | 2.1 | 69.2 | ‘Increase’ in Overall business situation is optimistic. @: Due to rounding off percentage may not add up to 100. #: Net Response (NR) is the difference of percentage of the respondents reporting optimism and that reporting pessimism. The range is -100 to 100. Any value greater than zero indicates expansion/ optimism and any value less than zero indicates contraction/ pessimism. |
Table I2: Assessment and Expectation for Turnover | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 23.4 | 35.9 | 40.6 | -17.2 | 24.5 | 45.1 | 30.4 | -5.9 | Q3:20-21 | 29.8 | 44.0 | 26.2 | 3.5 | 38.1 | 41.3 | 20.6 | 17.5 | Q4:20-21 | 47.7 | 32.6 | 19.8 | 27.9 | 41.8 | 48.2 | 9.9 | 31.9 | Q1:21-22 | 13.9 | 41.6 | 44.5 | -30.6 | 61.2 | 34.1 | 4.7 | 56.5 | Q2:21-22 | 29.6 | 43.8 | 26.7 | 2.9 | 51.1 | 41.8 | 7.1 | 43.9 | Q3:21-22 | | | | | 67.9 | 27.5 | 4.6 | 63.3 | ‘Increase’ in Turnover is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I3: Assessment and Expectation for Full-time Employees | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 3.9 | 66.1 | 29.9 | -26.0 | 7.7 | 70.2 | 22.1 | -14.4 | Q3:20-21 | 7.1 | 71.6 | 21.3 | -14.2 | 8.8 | 74.4 | 16.8 | -8.0 | Q4:20-21 | 11.9 | 69.0 | 19.0 | -7.1 | 14.3 | 74.3 | 11.4 | 2.9 | Q1:21-22 | 9.3 | 64.6 | 26.1 | -16.8 | 31.3 | 61.4 | 7.2 | 24.1 | Q2:21-22 | 20.4 | 61.7 | 17.9 | 2.5 | 36.1 | 59.9 | 4.0 | 32.1 | Q3:21-22 | | | | | 50.0 | 45.8 | 4.2 | 45.8 | ‘Increase’ in Full-time Employees is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I4: Assessment and Expectation for Part-time Employees | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 5.6 | 69.6 | 24.8 | -19.2 | 9.8 | 71.6 | 18.6 | -8.8 | Q3:20-21 | 8.7 | 76.8 | 14.5 | -5.8 | 10.6 | 76.4 | 13.0 | -2.4 | Q4:20-21 | 15.3 | 73.6 | 11.1 | 4.2 | 12.6 | 77.8 | 9.6 | 3.0 | Q1:21-22 | 11.0 | 74.7 | 14.3 | -3.3 | 23.5 | 67.6 | 8.8 | 14.7 | Q2:21-22 | 23.5 | 72.5 | 3.9 | 19.6 | 52.5 | 44.2 | 3.3 | 49.2 | Q3:21-22 | | | | | 69.3 | 28.8 | 2.0 | 67.3 | ‘Increase’ in Part-time Employees is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I5: Assessment and Expectation for Availability of Finance | (Percentage responses) | Quarter | Assessment | Expectation | Improve | No Change | Worsen | Net response | Improve | No Change | Worsen | Net response | Q2:20-21 | 14.4 | 60.8 | 24.8 | -10.4 | 14.7 | 66.7 | 18.6 | -3.9 | Q3:20-21 | 18.6 | 62.1 | 19.3 | -0.7 | 21.8 | 58.1 | 20.2 | 1.6 | Q4:20-21 | 24.7 | 57.6 | 17.6 | 7.1 | 23.0 | 64.0 | 12.9 | 10.1 | Q1:21-22 | 10.0 | 57.9 | 32.1 | -22.1 | 35.7 | 53.6 | 10.7 | 25.0 | Q2:21-22 | 26.7 | 52.5 | 20.8 | 5.8 | 44.9 | 48.5 | 6.6 | 38.3 | Q3:21-22 | | | | | 56.1 | 39.7 | 4.2 | 51.9 | ‘Improve’ in Availability of Finance is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I6: Assessment and Expectation for Cost of Finance | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 24.4 | 63.4 | 12.2 | -12.2 | 28.7 | 59.4 | 11.9 | -16.8 | Q3:20-21 | 20.3 | 73.2 | 6.5 | -13.8 | 27.6 | 65.9 | 6.5 | -21.1 | Q4:20-21 | 25.0 | 66.7 | 8.3 | -16.7 | 24.6 | 68.1 | 7.2 | -17.4 | Q1:21-22 | 15.9 | 63.0 | 21.0 | 5.1 | 31.7 | 67.1 | 1.2 | -30.5 | Q2:21-22 | 23.1 | 65.5 | 11.3 | -11.8 | 44.6 | 51.7 | 3.7 | -41.0 | Q3:21-22 | | | | | 49.8 | 47.7 | 2.6 | -47.2 | ‘Decrease’ in Cost of Finance is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I7: Assessment and Expectation for Salary/Wages | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 12.0 | 64.8 | 23.2 | 11.2 | 21.8 | 60.4 | 17.8 | -4.0 | Q3:20-21 | 19.3 | 70.0 | 10.7 | -8.6 | 23.4 | 71.0 | 5.6 | -17.7 | Q4:20-21 | 19.0 | 72.6 | 8.3 | -10.7 | 22.5 | 71.7 | 5.8 | -16.7 | Q1:21-22 | 11.5 | 73.8 | 14.7 | 3.2 | 45.6 | 48.1 | 6.3 | -39.2 | Q2:21-22 | 23.8 | 65.8 | 10.4 | -13.3 | 40.7 | 56.4 | 2.9 | -37.8 | Q3:21-22 | | | | | 51.3 | 46.2 | 2.5 | -48.7 | ‘Decrease’ in Salary/Wages is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I8: Assessment and Expectation for Cost of Inputs | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 36.1 | 59.7 | 4.2 | -31.9 | 31.6 | 62.2 | 6.1 | -25.5 | Q3:20-21 | 38.2 | 56.6 | 5.1 | -33.1 | 44.4 | 53.8 | 1.7 | -42.7 | Q4:20-21 | 46.1 | 52.6 | 1.3 | -44.7 | 42.2 | 56.3 | 1.5 | -40.7 | Q1:21-22 | 41.9 | 53.5 | 4.6 | -37.3 | 47.2 | 50.0 | 2.8 | -44.4 | Q2:21-22 | 55.9 | 42.7 | 1.3 | -54.6 | 62.4 | 37.6 | 0.0 | -62.4 | Q3:21-22 | | | | | 76.5 | 23.0 | 0.4 | -76.1 | ‘Decrease’ in Cost of Inputs is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I9: Assessment and Expectation for Selling Price | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 8.9 | 63.4 | 27.7 | -18.8 | 7.5 | 68.8 | 23.7 | -16.1 | Q3:20-21 | 8.7 | 75.4 | 15.9 | -7.1 | 10.9 | 68.2 | 20.9 | -10.0 | Q4:20-21 | 23.9 | 56.3 | 19.7 | 4.2 | 15.2 | 72.8 | 12.0 | 3.2 | Q1:21-22 | 12.7 | 75.6 | 11.8 | 0.9 | 33.3 | 52.2 | 14.5 | 18.8 | Q2:21-22 | 25.8 | 62.6 | 11.6 | 14.1 | 51.8 | 46.8 | 1.4 | 50.5 | Q3:21-22 | | | | | 59.9 | 38.1 | 2.0 | 57.9 | ‘Increase’ in Selling Price is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I10: Assessment and Expectation for Profit Margin | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 7.3 | 43.5 | 49.2 | -41.9 | 11.9 | 44.6 | 43.6 | -31.7 | Q3:20-21 | 11.3 | 53.9 | 34.8 | -23.4 | 17.4 | 47.9 | 34.7 | -17.4 | Q4:20-21 | 18.5 | 51.9 | 29.6 | -11.1 | 21.0 | 54.3 | 24.6 | -3.6 | Q1:21-22 | 8.6 | 52.0 | 39.4 | -30.8 | 39.2 | 44.3 | 16.5 | 22.8 | Q2:21-22 | 19.2 | 51.9 | 28.9 | -9.6 | 42.3 | 50.0 | 7.7 | 34.7 | Q3:21-22 | | | | | 49.8 | 43.5 | 6.7 | 43.1 | ‘Increase’ in Profit Margin is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I11: Assessment and Expectation for Inventories | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 12.4 | 75.2 | 12.4 | 0.0 | 14.3 | 72.4 | 13.3 | 1.0 | Q3:20-21 | 12.9 | 75.0 | 12.1 | 0.8 | 18.0 | 69.7 | 12.3 | 5.7 | Q4:20-21 | 28.9 | 60.5 | 10.5 | 18.4 | 16.8 | 73.3 | 9.9 | 6.9 | Q1:21-22 | 10.9 | 79.2 | 10.0 | 0.9 | 33.8 | 59.2 | 7.0 | 26.8 | Q2:21-22 | 25.1 | 66.1 | 8.7 | 16.4 | 45.2 | 52.1 | 2.8 | 42.4 | Q3:21-22 | | | | | 58.6 | 36.5 | 5.0 | 53.6 | ‘Increase’ in Inventories is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I12: Assessment and Expectation for Technical/Service Capacity | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 5.6 | 85.2 | 9.3 | -3.7 | 8.8 | 80.2 | 11.0 | -2.2 | Q3:20-21 | 9.2 | 83.3 | 7.5 | 1.7 | 9.5 | 82.9 | 7.6 | 1.9 | Q4:20-21 | 20.6 | 69.8 | 9.5 | 11.1 | 10.0 | 85.0 | 5.0 | 5.0 | Q1:21-22 | 12.1 | 81.9 | 6.0 | 6.0 | 28.6 | 64.3 | 7.1 | 21.4 | Q2:21-22 | 29.6 | 66.7 | 3.7 | 25.9 | 70.3 | 29.1 | 0.7 | 69.6 | Q3:21-22 | | | | | 82.1 | 16.4 | 1.5 | 80.6 | ‘Increase’ in Technical/Service Capacity is optimistic. Footnotes @ and # given in Table 1 are applicable here. |
Table I13: Assessment and Expectation for Physical Investment | (Percentage responses) | Quarter | Assessment | Expectation | Increase | No Change | Decrease | Net response | Increase | No Change | Decrease | Net response | Q2:20-21 | 10.7 | 75.7 | 13.6 | -2.9 | 9.1 | 72.7 | 18.2 | -9.1 | Q3:20-21 | 9.4 | 82.1 | 8.5 | 0.9 | 17.6 | 72.5 | 9.8 | 7.8 | Q4:20-21 | 14.3 | 79.4 | 6.3 | 7.9 | 14.8 | 77.4 | 7.8 | 7.0 | Q1:21-22 | 15.9 | 79.0 | 5.1 | 10.8 | 29.0 | 66.1 | 4.8 | 24.2 | Q2:21-22 | 28.5 | 68.8 | 2.8 | 25.7 | 68.8 | 31.2 | 0.0 | 68.8 | Q3:21-22 | | | | | 73.6 | 23.6 | 2.8 | 70.8 | ‘Increase’ in Physical Investment is optimistic. Footnotes @ and # given in Table 1 are applicable here. | |