Biz confidence at five-year high

Saturday, 11 January 2025 00:49 - - {{hitsCtrl.values.hits}}

In its January edition, business magazine LMD notes that “the election of a new government has ignited a surge of optimism and speculation about the country’s economic future.”

“Against a backdrop of prolonged economic turbulence, the government’s pledge of change has struck a chord with a business community that’s eager for both stability and growth,” it adds.

LMD reports that in December, the LMD-PEPPERCUBE Business Confidence Index (BCI) surged by 20 basis points to reach 174 (up from 154 in the preceding month). “This marks its highest point since January 2020 – which ironically, followed the November 2019 presidential election – and a high for 2024,” it observes.

A spokesperson for the magazine notes that this is the fourth month that the barometer crossed into triple digits last year.

She adds: “The index stands 51 points above its historical average of 123. And it is 65 points higher than its 12-month average of 109.”

Meanwhile, PepperCube Consultants says in the magazine that “sentiment surrounding the economy remains consistent with the results prior to the general election, though optimism about sales volumes in both the short and longer term has improved since then.”

Media Services, LMD’s publisher, says the latest edition of the magazine has been released. Its digital version has also been shared on the publisher’s social media platforms (the full BCI report will be uploaded on its website – www.LMD.lk).