YEREVAN, May 8. / ARKA /. The Central Bank of Armenia has revised the methodology it had used to calculate business surveys-based indexes combining the business environment index with business activity index into one single business environment index, Martin Galstyan, head of statistics department of the Central Bank, said to a news conference today.
He said the decision was prompted by the fact that no other country in the world compiles both indexes separately. He added that the possibility to predict one of the indices was quite small.
He said the idea to combine both indexes into one had appeared long time ago, but it took time to prepare new methods and mechanisms for this procedure.
Galstyan also said that the Central Bank will publicize the old two indices until the end of the year on a quarterly basis along with the new single business environment index to allow tracking the current trends.
He said in the first quarter of 2013 the business environment index increased by 4.4 basic points to 55.7 from the previous quarter.
Business environment index is measured by averaged assessments of the organizations related to economic situation and risks.
Since early 2005, the Central Bank has been conducting quarterly surveys among non-financial, financial organizations and households to measure how the present economic situation and expectations change from a previous period. -0-