'India's business outlook for July-Sept quarter low'

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MOMBAY, (Internet): India's business outlook index is at an all-time low at 65 index points after 5 per cent dip from the previous quarters, says TeamLease quaterly employment outlook for the quarter July-September 2008.

The business outlook index points have shown a major increase in the ITeS sector but that of financial services, telecom, infrastructure and retail, media & FMCG sectors have decreased.

The employment outlook index for quarter July - September 2008 shows a marginal increase at 75 index points, which is 1 index point higher when compared to the previous quarter.

Among the sectors covered, there is a decrease in index points of Telecom (with 88 points) and financial services (with 67 points). There has been an increase in index points of all other sectors except retail, media and FMCG which maintained its index point. Infrastructure (with 93 points) has the highest index points.

Sampath Shetty, Vice President, TeamLease Services said, "with the current Indian economy in the inflation phase, and bogged down by oil price crisis, there is a negative implication in the overall employment outlook. The overall net employment growth has seen a negative growth for last four quarters with cities like Mumbai and Kolkata reaching a growth threshold for job opportunities.