Subdued economic sentiment – survey

Wednesday, 18 September 2024 04:10 - - {{hitsCtrl.values.hits}}

Business magazine LMD reports in its latest edition that “optimism among corporates appears to be subdued as businesses continue to be marred by an uncertain and challenging macroeconomic environment.”

“The latest results from the LMD-PEPPERCUBE Business Confidence Index (BCI) survey reflects ongoing concerns about the economic outlook,” it adds.

In August, the magazine notes, 16% of survey participants expressed optimism about the economy ‘improving’ over the next 12 months, representing an 11% decline from the previous month.

“Additionally, 43% of respondents believe the economy will ‘stay the same’, marking a 10% increase from July. 41% expect the economy to ‘get worse’, which is a slight rise of 1% point from a month ago,” LMD reports.

LMD also notes that: “Sales people are increasingly worried about the outlook with optimism declining since June. The exclusive poll reveals that only 18% of executives expect their sales volumes to improve over the next 12 months, representing a 12% drop from July’s projections.”

“Looking ahead, expectations for higher sales volumes over the next three months remain muted with less than a fifth (19%) expressing optimism about their numbers ‘getting better’ – a 13% drop from the preceding month,” it states.

LMD’s publisher, Media Services, says the September 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 an exclusive with the Colombo Stock Exchange (CSE) Chairman Dilshan Wirasekara, in which he discusses ‘post-election stability’.

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