Economic sentiment continues to erode: Survey

Saturday, 23 May 2020 00:01 - - {{hitsCtrl.values.hits}}

The latest LMD-Nielsen Business Confidence Index (BCI) survey reveals that sentiment surrounding the economy declined substantially in April with 62% of respondents expecting conditions to deteriorate in the next 12 months – an increase from 16% in the previous month.

Similarly, the outlook for business has also waned with only 44% of those surveyed stating that sales volumes will improve in the coming 12 months compared to 60% in March. As for the short term, a mere 13% of those consulted by Nielsen expect sales volumes to improve in the next three months while 63% believe that prospects will worsen.

Meanwhile, sentiment surrounding investment climate has also eroded as a majority (60% – versus 32% in March) of those consulted by the pollsters view conditions in a negative light.

In contrast, almost a quarter of survey respondents consider prevailing conditions to be ‘fair’ while 16% describe the climate as ‘good’ or better.

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

LMD’s Cover Story features an exclusive interview with the CEO of MAS Holdings Suren Fernando, in which he discusses the apparel industry in relation to the export sector in the midst of the COVID-19 crisis, human resources and country profile (for the full story, log onto www.LMD.lk).