Business confidence in the GCC fell in the first quarter to its lowest in nearly a year as regional unrest threatened local export markets, HSBC says.
The global banking group's GCC business confidence index fell by two points from the previous quarter to 85.5 points, its lowest since last April's reading of 85.3 points.
Expectations for future regional trade dipped as more companies geared up to export to Asia, the index showed. About 40 per cent of surveyed respondents forecast higher trade with China over the next six months.
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