Economic sentiment wanes: Survey

Saturday, 20 March 2021 00:14 - - {{hitsCtrl.values.hits}}

Despite the improvement in sentiment recorded in January, less than three in 10 respondents to the latest LMD-Nielsen Business Confidence Index (BCI) survey expect economic conditions to improve in the next 12 months.

Moreover, slightly less than a quarter (compared to around a fifth in the preceding month) of those consulted by Nielsen say the economy will deteriorate during this period while nearly half expect conditions to remain the same.

According to survey respondents, long-term prospects for business are likely to improve although the outlook for the short term is more cautious.

Over three-quarters of businesspeople say sales volumes will increase over the next 12 months while 37% (up from 34% in the prior month) expect to witness an improvement in the next three months.

As for the investment climate, 19% of corporate executives view the outlook in a positive light. On the other hand, 64% of those polled do not consider this to be a good time to invest while the remainder describe conditions as ‘fair.’

The publisher of LMD, Media Services, says the March edition of the magazine has been released. Its digital edition is also available on WhatsApp and the publisher’s social media platforms.

Its Cover Story features an exclusive interview with the WHO Representative to Sri Lanka Dr. Razia Pendse, in which she discusses the pandemic response and the global health agency’s efforts to ensure the equitable distribution of vaccines (for the full story, log onto www.LMD.lk).