Economic sentiment remains in positive territory – survey

Saturday, 28 December 2024 00:29 - - {{hitsCtrl.values.hits}}

In its latest edition, business magazine LMD reports that “the sense of optimism sparked by the presidential election in September outcome remains.”

“Confidence in corporate circles remains largely unchanged following the presidential election, signalling a modest shift in economic sentiment under the caretaker government at the time of the latest monthly LMD-PEPPERCUBE Business Confidence Index (BCI) survey,” it adds.

In the first week of November, when the unique poll was conducted, 41% of survey participants expressed optimism about the economy ‘improving’ over the next 12 months, maintaining the same level as in October, LMD notes.

It continues: “Meanwhile, over half the respondents (56%) believe the economy will ‘stay the same,’ marking a 6% uptick. On the other hand, 3% expect the economy to ‘get worse,’ which is a decrease of six percentage points from the preceding month.”

According to LMD, however, the shift in sentiment among sales people seen in October has held steady, as their concerns about the economic outlook remain subdued.

The latest poll reveals that 46% of executives anticipate an improvement in their sales volumes over the next 12 months, which is consistent with October’s results.”

“And 51% expect their sales numbers to ‘stay the same,’ marking a six point rise from 45% in October. Additionally, only 3% foresee their sales volumes to ‘get worse’ – down from nine percent,” the magazine reports.

LMD’s publisher, Media Services, says the December 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 David Sislen – World Bank’s Regional Country Director for Maldives, Nepal and Sri Lanka – who says: “While I acknowledge the risks ahead, I’m extremely bullish about Sri Lanka’s future.” The full story has been uploaded on LMD’s website (www.LMD.lk).