BUSINESS CONFIDENCE REMAINS LOW

OVERALL business confidence rose by one percentage point but remained at a very low level during the first quarter of the year, according to a survey released by the Bureau for Economic Research on Tuesday. The bureau said the small rise in its index suggests that the recessionary conditions of the second half of 1998 are continuing despite declines in interest rates since October last year. It said that the sharp fall in confidence reflects the effects of the international financial crisis on the economy.