WINDHOEK: Namibia’s Business Climate Index fell for the second consecutive month, this time by a margin of 9.2 basis points during December 2012.
This brings the cumulative decline to 16.7 basis points over the past two months, according to the Institute for Public Policy Research (IPPR) Business Climate Index Monitor issued yesterday.
It said businesses invested less during December, largely due to fewer building plans being completed because of the construction holiday that began on 10 December last year.
The report also indicated that 19 per cent fewer commercial vehicles were sold.
Although credit to businesses rose 30 per cent year on year, it was mostly unsecured lending in the mining, energy and retail industries to finance day-to-day operations and not investment in machinery and equipment, it stated.
Consequently, the investment index fell by 17 basis points.