Economic sentiment shores up – survey

Wednesday, 13 November 2024 00:30 - - {{hitsCtrl.values.hits}}

In its latest edition, leading business magazine LMD reports that “there’s been a surge of optimism following the recent Presidential Election.”

Citing the latest results from the monthly LMD-PEPPERCUBE Business Confidence Index (BCI) survey, the magazine notes: “Optimism in corporate circles has surged following the 21 September presidential election, marking a positive swing in economic sentiment under the new executive.”

As PepperCube Consultants observes in LMD, the outcome of the election sparked significant changes in the corporate landscape as businesses anticipate reforms on the economic and governance fronts.

LMD reports that in October, 41% of survey participants expressed optimism about the economy ‘improving’ over the next 12 months, recording a substantial increase of 33 percentage points from a mere 8% in the previous month.

“Meanwhile, half of the survey population believe the economy will ‘stay the same’ (an 18% decrease from September) while 9% expect it to ‘get worse,’ representing a decline of 15 percentage points,” it adds

As for sales volumes, LMD explains that “there’s a clear shift in sentiment among salespeople as their concerns about the economic outlook have subsided, following a pick-up after three consecutive months of decline since June.”

The latest poll reveals that 46% of executives anticipate an improvement in their sales volumes over the next 12 months, representing a mammoth 38% spike from September, it explains.

LMD’s publisher, Media Services, says the November 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 the Managing Partners of the three big audit firms in Sri Lanka and their take on the state of the nation and business.

The full story has been uploaded on LMD’s website (www.LMD.lk).