The 2022 third quarter Business Expectation Survey results report has been released. The results of the Report suggest that firms are optimistic about business conditions in the third quarter of 2022 compared to the pessimism that prevailed in the second quarter. The optimism is reflected by firms’ expectations of positive domestic economic performance, hence, some expected improvements in investment in plant, machinery, buildings, vehicles, equipment and other investment, compared to the June 2022 survey. Firms anticipate tight access to credit across all markets as central banks continue to increase rates amid high levels of inflation. Firms also expect cost pressures to remain high in the fourth quarter of 2022, mainly due to supply constraints arising from the Ukraine-Russia war. Firms expect inflation to remain above the Bank’s 3 - 6 percent objective range in 2022 and 2023. Overall, the increase in business confidence is expected to have a positive impact on domestic economic performance.
The full report is attached below: