Since mid-2016 up to March 2018, conditions have tightened considerably, although some easing have occurred in the third quarter. Latest data up to March 2019 show that conditions have been tightening again since late 2018. The average value of the FCI over the past 3 months was up by 3.2% compared with the previous 3 months, while all five constituent variables increased. On a month-on-month basis, the overall indicator was down 1.8%, while the year-on-year change was -3.2%.
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