ISLAMABAD, Dec 25: The Pakistan Institute of Development Economics (PIDE) has launched a survey, titled Business Barometer, to provide independent biannual information about the state of economic activities in Pakistan.

It comprises survey of firms’ assessment of economy through their own activities. This edition of the Business Barometer of Pakistan is based on views of 61 selected firms listed at the Karachi Stock Exchange (KSE).

It categorises firms into two groups: financial and non-financial sectors.

In contrast to the previous survey, there is no substantial difference in both the assessment and expectations of the financial as well as non-financial sectors about economy.

The analysis is based on firms’ opinion about overall performance of economy, such as growth and inflation as well as their own activities during the first half of 2008 and expectations about the last six months of 2008.

The business sector noted that level of growth of economy during the first half of 2008 declined as compared to the growth level during the previous six months.

The difference in the assessment of the financial and non-financial sectors of the country diminishes for the year 2008.

The financial sector has joined non-financial sector in comprehending slower pace of growth for the first half of 2008.

The expectation of the business sector about the pace of growth of economy in the last six months of 2008 is pessimistic.

The net balance remains consistently negative as in the case of previous two assessments, decline in the economic growth is expected for the second half of 2008.—APP