Home / Front Page/ Biz confidence stays subdued

Biz confidence stays subdued


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 11 July 2018 00:11


According to the latest edition of business magazine LMD, the LMD-Nielsen Business Confidence Index (BCI) declined by four basis points to 102 in June, yet again falling short of its 12-month average of 115.

As for the reasons behind the recent drop, in the July issue of LMD, Nielsen’s Managing Director Sharang Pant states that “while inflation has been steadily coming down, there is a fear of it moving up again on account of an increase in fuel prices”.

He adds: “Prices of commodities are stable, but they’re still high compared to last year, and the tax on personal income is now higher.”

When it comes to corporate sensitivities, LMD reports that high taxes, political interference and the value of the rupee are the main concerns among businesspeople. A survey respondent opines that “the economy has suffered due to constant political interference and a lack of consistency in policy implementation by the Government,” adding that “we need political stability if our economy is to 

improve”.

Looking forward, a spokesperson for LMD observes that its assessment from last month – i.e. that there was little in the way of positive news to propel a major turnaround in business sentiment – continues to hold true, citing the impact of “the plummeting rupee, the prospect of spiralling costs and events on the world stage” on the local economy.

Media Services, which publishes LMD, says the July edition of the magazine will be released to leading bookstores and supermarkets on 6 July. 

For the full BCI report, visit www.LMD.lk.


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Bright star Imran Khan could well go the way of his predecessors

Saturday, 21 July 2018

Imran Khan, the Pakistani cricket star, anti-corruption crusader and politician, appears to be within reach of his cherished goal of winning the 25 July Pakistan National Assembly (NA) elections and becoming Prime Minister.


Top Cola brand crashing globally; lesson for Sri Lanka

Friday, 20 July 2018

We have heard the age old adage, if a brand is not in line to the trends of a customer, they will cease to exist over time.


Religion and politics: a tale of two hypocrisies

Friday, 20 July 2018

It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness; it was the epoch of belief,


Sri Lanka’s Trade Information Portal – Bringing local traders one step closer to the global market

Friday, 20 July 2018

Sri Lanka’s traditional lacework famously known as Beeralu is slowly moving into the spotlight of the global fashion industry


Columnists More