Slide in consumer confidence continues

Monday, 4 December 2023 01:16 - - {{hitsCtrl.values.hits}}

Consumer confidence fell again in October, continuing its slide from its peak in April

2023, according to the Institute for Health Policy (IHP) as per the latest update of its Consumer Confidence Indices, generated from its Sri Lanka Opinion Tracker Survey (SLOTS).

IHP said all indices remain at pessimistic levels with the biggest decline in the Index of Current Conditions, which tracks current conditions, and which fell 5 points to 13 points.

The Index of Consumer Sentiment (ICS), the broadest measure of the public’s view of their personal economic status and the national economy, fell 3 points to 22 points in October.

The Index of Consumer Expectations (ICE), which tracks future perceptions fell 2 points to 28 points.

All IHP SLOTS consumer confidence indices range from zero to a potential maximum of 100, with levels below 50 indicating net pessimism.

The CCI estimates are based on 558 interviews conducted by telephone in October 2023 and 13,216 adults surveyed between Oct. 21 2021-Oct. 31 2023, with sample sizes varying between indices depending on response rates. All estimates are adjusted to be representative of the national population, including gender, age, ethnicity, and income level.

The SLOTS platform tracks public opinion and wellbeing daily using a large national panel recruited by face-to-face interviews and other randomly dialled respondents, with numerous peer-reviewed scientific publications that use the data.