Economic sentiment wanes: Survey

Saturday, 22 January 2022 01:32 - - {{hitsCtrl.values.hits}}

Perceptions among business executives about the economic climate over the next 12 months deteriorated in December, according to the results of the latest LMD-NielsenIQ Business Confidence Index (BCI) survey.

The majority (71% – up from 55% in November) of respondents continue to have a more pessimistic outlook of the economy, while a mere 5% (compared to 11% in the previous month) believe conditions “will improve”.

Furthermore, 24% of those consulted by the pollsters say economic conditions will “stay the same”.

As for the outlook for long-term business prospects, 86% of survey participants expect sales volumes to increase over the next 12 months, although 4% anticipate a decline; and when it comes to the short-term, nearly half of the survey sample say that sales volumes will improve over the next three months. On the other hand, 47% expect sales to remain the same during this time.

Meanwhile, a mere 1% of survey respondents view the investment climate as favourable, whereas a large majority (90% – versus 75% in the preceding month) describe conditions as “poor” or worse.

The publisher of LMD, Media Services says the January 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 LMD’s 27th ‘Sri Lankan of The Year’ – Yohani. It pays tribute to the young musician who shot to international fame with her rendition of ‘Manike Mage Hithe,’ by connecting with her fellow citizens as well as the wider international community (for the full story, log onto www.LMD.lk).