Consumer confidence rises to highest level in October since 2022

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Sentiment continued to improve after Presidential Election, says IHP

The Institute for Health Policy (IHP) yesterday released the October 2024 update of its

Consumer Confidence Indices, generated from its Sri Lanka Opinion Tracker Survey

(SLOTS).

In October, all three of IHP’s Consumer Confidence indices increased, reaching their highest levels since SLOTS began tracking in 2022. Compared to the previous month, the Index of Consumer Sentiment (ICS)–the broadest measure of public views on personal economic status and the national economy–rose by 8 points to 40. The Index of Consumer Expectations (ICE), which tracks future perceptions, increased by 9 points to 45, and the Index of Current Conditions (ICC), a measure of perceptions of current conditions, increased by 5 points to 33.

The increases in ICS and ICE were driven by improved perceptions of both personal financial and country’s financial situation in the short- and long-term. However, public views on current buying conditions remained relatively unchanged.

All IHP SLOTS consumer confidence indices range from zero to a potential maximum of 100, with levels below 50 indicating net pessimism.

These estimates are based on 21,234 interviews conducted between 21 October 2021 and 7 November 2024, including 761 interviews conducted in October 2024. Sample sizes vary between indices based on response rates, with responses weighted to match the national population.

The SLOTS platform tracks public opinion and wellbeing daily using a large national panel recruited by face-to-face interviews and other randomly dialled respondents, with numerous peer-reviewed scientific publications that use the data.

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