Economic sentiment remain mixed– survey

Saturday, 20 July 2024 01:02 - - {{hitsCtrl.values.hits}}

Leading business magazine LMD reports in its July edition that “businesses are navigating challenges and opportunities amid the turbulence.”

LMD notes: “The latest findings (in June) from the LMD-PEPPERCUBE Business Confidence Index (BCI) poll continue to underscore widespread apprehension about the economic landscape.”

According to the magazine, 30% of respondents to the monthly poll expressed optimism about the economy ‘improving’ over the next 12 months, which aligns with the May outcome.

And more than one in four executives (26%) anticipate the economy will ‘stay the same,’ which is also consistent with the previous month. Likewise, 44% believe that the economy will ‘get worse,’ once again mirroring the sentiments reported in May.

On the sales front, the magazine reports: “Salespeople continue to navigate with a sense of unease amid a somewhat improved outlook that sales volumes will ‘get better’ over the next 12 months – 34% foresee an uptick, indicating a three point increase from May’s projections.”

Looking ahead, LMD notes that expectations for higher sales volumes in the next three months have improved with nearly a third (32%) expressing optimism about their numbers ‘getting better,’ which reflects a five percent uptick from the previous month.

And a spokesperson for the magazine adds: “Nearly a quarter of poll participants expect their sales numbers to stay the same, which is a 5% drop from the previous month.”

“On the downside, a massive 44% expect their sales volumes to get worse over the next three months, as in May,” she 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 and a list of the ‘Best Workplaces in Sri Lanka’. The full story has been uploaded on LMD’s website (www.LMD.lk).