Economic sentiment remains cautious – survey

Saturday, 25 January 2025 01:04 - - {{hitsCtrl.values.hits}}

In its latest (January) edition, leading business magazine LMD reports that “confidence about the economy in corporate circles remains subdued, despite the rise of the LMD-PEPPERCUBE Business Confidence Index (BCI), which perhaps suggests a sense of caution ahead of Budget 2025.”

According to PepperCube Consultants, “the newly elected Government has been well received by the corporate community, as reflected in how economic sentiment has gained ground since the Presidential Election.”

LMD notes: “In the first week of December, 41% of BCI survey participants expressed confidence about the economy ‘improving’ over the next 12 months, maintaining the same level for the third consecutive month.”

“It is noteworthy that only 8% viewed the economy with optimism before the presidential election in September. Meanwhile, well over half the respondents (57%) believe the economy will ‘stay the same,’ marking a 1% increase,” it adds.

A spokesman for the magazine says that “there’s been a shift in sentiment among salespeople. In December, more than half of the executives spoken to by PepperCube Consultants said they expect an improvement in sales this year.”

This, he notes, is a 7% increase on the prior month’s positivity.

LMD’s publisher, Media Services, says the January 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 LMD’s 2024 ‘Sri Lankan Of the Year,’ the Governor of the Central Bank. The full story has been uploaded on LMD’s website (www.LMD.lk).