Economic sentiment wanes: Survey

Saturday, 6 November 2021 00:29 - - {{hitsCtrl.values.hits}}

Sentiment surrounding the economy deteriorated in October as a mere 8% of respondents say economic conditions are likely to improve in the coming 12 months. This marks a decline from the one in five who said so in the previous month.

Meanwhile, the majority (47%) of those consulted by Nielsen are pessimistic and anticipate a deterioration in conditions during this period while the balance (45%) believe that the economy will ‘stay the same’.

As for business prospects, the outlook for the long and short terms appears to have improved.

Of those surveyed, 86% (versus 51% in the preceding month) anticipate an increase in sales volumes over the next 12 months while only 5% believe they will decline.

When it comes to the next three months, 43% (compared to 25% in September) of respondents expect sales volumes to improve in the three months ahead.

On the other hand, the majority (50%) of survey participants say that sales will ‘stay the same’ in the next three months while 7% have a negative outlook.

Where the investment climate is concerned, sentiment has deteriorated with 80% (down from 71% in the previous month) of businesspeople describing conditions as ‘poor’ or ‘very poor’. LMD’s publisher, Media Services, says the November edition of the magazine has been released. Its digital edition is also available on WhatsApp and the publisher’s social media platforms.

Its Cover Story features an exclusive interview with the Aberdeen Holdings Chairman Osman Kassim, in which he shares his logistics and corporate expertise, and assesses the threats and opportunities Sri Lanka faces (for the full story, log onto www.LMD.lk).