Economic outlook continues to be uncertain – Survey

Monday, 22 January 2024 02:17 - - {{hitsCtrl.values.hits}}

“Corporates are cautiously optimistic while bracing themselves for the challenges that lie ahead,” business magazine LMD says, in its January edition, citing the findings from the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey.

It observes: “Despite the prevailing uncertainties, 21% of poll participants say the economy will ‘improve’ in terms of the outlook for the next 12 months.

This represents an increase of 13 points compared to the preceding month of November (8%).”

LMD explains: “In December, 22% anticipated the economy to ‘stay the same,’ surpassing the 19% recorded in the preceding month. Meanwhile, there’s a shift in sentiment given the 57% who believe the economic situation will ‘get worse’ – a substantial decrease of 16 points from November (73%).”

According to LMD, there’s been an uptick in optimism regarding anticipated improvements over the next 12 months for sales volumes.

It says that 27% of respondents are confident that sales volumes will ‘get better,’ which is a four point increase from November. Additionally, over one in four respondents (27%) believe their numbers will ‘stay the same,’ compared to the previous 23%.

“And the proportion of executives expecting sales volumes to ‘get worse’ has fallen to 46%, down from 54% in the prior month,” the magazine notes.

Looking ahead to the next three months, LMD notes that, “There’s a positive outlook regarding sales volumes ‘getting better’ with 26% saying so. This is a significant increase from the 14% recorded in the previous month.”

LMD’s publisher, Media Services, says the latest edition of the magazine has been released. And its digital edition will also be shared on whatsapp and the publisher’s social media platforms.

The magazine’s cover story featured LMD’s Sri Lankan of the Year Tharushi Karunarathna, the full story has been uploaded on LMD’s website (www.LMD.lk).