Economic sentiment mixed – survey

Monday, 12 August 2024 00:46 - - {{hitsCtrl.values.hits}}

Pioneering business magazine LMD reports in its August edition that “businesses are navigating uncertain waters with caution amid multiple hostilities.”

A spokesperson for the magazine explains: “Salespeople are cautious about the economic outlook, and the optimism we saw in June appears to have faded.”

“In July, 27% of survey participants expressed optimism about the economy ‘improving’ over the next 12 months, marking a 3% decrease from the month prior,” it notes.

LMD continues: “A third (33%) believe the economy will ‘stay the same’ – a 7% increase from June. Furthermore, 40% of respondents feel the economy will ‘get worse,’ which is a 4% drop from June’s reported opinion.”

According to the poll conducted for LMD by PepperCube Consultants, only 30% of surveyed executives believe that sales volumes will ‘get better’ over the next 12 months. This marks a 4% decline from June’s projections, the magazine reveals.

“Nearly three in 10 (29%) of survey participants anticipate their sales numbers will ‘stay the same,’ which represents a marginal increase from June’s 25%. Meanwhile, 41% expect their sales volumes to ‘get worse’ – this has remained steady over the past four months,” LMD adds.

The magazine says that “looking ahead, expectations for higher sales volumes in the next three months remain positive with nearly a third (32%) expressing optimism about their numbers ‘getting better,’ as in the previous month.”

“However, a sizeable percentage (42%) of survey respondents expect their sales volumes to ‘get worse’ over the next three months – a sentiment that is 2% lower than in the preceding month,” it adds.

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

The magazine’s Cover Story features an exclusive report on good governance, which it coins as a “reality check.” The full story has been uploaded on LMD’s website (www.LMD.lk).