Beijing's business climate index fell to 108.9, the lowest level since 2003 in the fourth quarter of 2008, as economic conditions deteriorated sharply, the Beijing Municipal Bureau of Statistics said on Saturday.

This was a result of multiple factors such as the Olympic Games, the government's macro-control measures and the global financial crisis, the bureau said.

The index ranges from zero to 200. A reading above 100 shows economic expansion, while a reading below 100 indicates contraction. The survey began in 1998.

The index for industry was 92, down from 135.9 points in the second quarter.

The index for the entrepreneurial confidence index sank to 85.5 points, the lowest in 10 years.

The entrepreneurial confidence index will maintain its downward move in the first quarter as both global and domestic economy are faced with downturn, according to the bureau.