Home / Front Page/ Biz confidence takes a tumble in December

Biz confidence takes a tumble in December


Comments / {{hitsCtrl.values.hits}} Views / Friday, 4 January 2019 00:10

Facebook

 


The latest edition of LMD notes that the LMD-Nielsen Business Confidence Index (BCI) declined to 90 in December, following a jump of 25 basis points from 85 to 110 in the previous month.

According to the leading business magazine, the results of the latest survey – which was conducted in the first week of December – can be attributed to factors such as the depreciation of the Sri Lankan Rupee, downgrading of Sri Lanka’s credit ratings by rating agencies and uncertainty that prevailed in Parliament at the time. Nielsen’s Managing Director Sharang Pant observes that while the country’s macroeconomic performance has been somewhat encouraging in recent months, “political instability is outweighing the positives amid question marks hanging over investments by local and foreign investors”.

Politics, the health of the economy, and bribery and corruption are reported as being among the main concerns in corporate circles.

One corporate executive asserts: “The public does not have money to purchase goods, businesses are struggling and investments are on hold – and the only party who should take responsibility for this crisis are the politicians who’ve created this political and economic turmoil.”

A spokesperson for the business magazine explains that the spike in sentiment witnessed in November may have been “too good to be true considering the events on the ground at the time.” In terms of the outlook for the index, she says: “There may well be a U-turn in the BCI as a result of the resolution to the dissolution of parliament.”

LMD’s publisher, Media Services, says the latest edition of the magazine will be released to leading bookstores and supermarkets on 4 January (for the full BCI report, visit www.LMD.lk).


Share This Article

Facebook Twitter


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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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

Wounding the social psyche

Friday, 19 April 2019

In this article, I intend to discuss the serious wounds inflicted on the psyche of Sri Lankan society, which have not received adequate attention, but need immediate cure, for they might develop into a dangerous cancer if not treated without further


No more stones to break Sri Lankan bones

Friday, 19 April 2019

Trial by fire is not a new ordeal to Christian community. It predates Notre Dame and Nazism by millennia. In fact, a decade or so before Nero torched believers to light Roman avenues, Jewish religious leaders put Jesus-followers to the test as the Ch


What 5G could be to Game of Thrones (and vice versa)

Friday, 19 April 2019

We will be hearing a lot about these two seemingly unrelated topics this month. In a hurriedly but meticulously organised event, Dialog Axiata recently demonstrated 5G applications for the first time in South Asia. 5G will be commercially available


On time – Only for a week! A must-change!

Thursday, 18 April 2019

We are in April and the month where we witness the declaration of a new year as per our traditional practice. It is that period of time when a huge majority of our population, which certainly can be counted in millions, intends to act in unison and q


Columnists More