Home / Front Page/ Business confidence intact in February

Business confidence intact in February


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 14 March 2018 00:00


The LMD-Nielsen Business Confidence Index (BCI) increased by a single basis point to 128 in February, the latest edition of business magazine LMD reports. 

In the March edition of the magazine, Nielsen’s Managing Director Sharang Pant notes that “businesses are probably wary of the impact on the economy stemming from the results of the Local Government (LG) elections”.

He also points out: “Business leaders continue to highlight that consumption especially in urban Sri Lanka is still subdued on account of high inflation.”

While observing that sentiment regarding the economy has dampened compared to January, LMD notes that only 16% of respondents expect an improvement over the next 12 months. In contrast, the majority (43%) of respondents feel that economic conditions ‘will get worse,’ the magazine notes.

The outlook for business prospects also seems to have worsened with the exclusive monthly survey revealing that only three in 10 corporate executives expect an improvement in the short and long terms, down from January’s 35% and 38% respectively. In addition, the magazine observes that the business community is seemingly sceptical about the investment climate with just over one in 10 respondents considering this to be a good time to invest.

LMD notes that businesses are concerned with issues such as political instability, corruption and ‘ethnic conflicts’ – although one respondent cites the development of infrastructure facilities as a sign of progress that will prove essential to economic growth. A spokesperson for LMD states that following the LG elections, business sentiment might waver due to the political climate: “Whether the state of affairs will remain the same is in serious doubt with the nation and its corporates preparing for further political uncertainty.”

LMD’s publisher Media Services says the March edition of the magazine is now available in leading bookstores and supermarkets. 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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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

Strong trade agreements need 30-50 consultations

Wednesday, 20 June 2018

Coming from a multinational working background, I strongly support free trade given that open competition tends to sharpen


The case of our concealed subservience to China

Wednesday, 20 June 2018

If one takes a close look at the general trend of discourse and debate that has been going on in Sri Lanka, one cannot but be


Muslim markers in Sri Lanka: Changes and challenges

Wednesday, 20 June 2018

If we exclude from our consideration the wars that owe their origin to religious hatred, or to difference in fundamental principles


A 10-point guide on bank credit facilities that suit your business best

Tuesday, 19 June 2018

As a businessman when you visit a bank seeking credit facilities you are faced with a lot of banking jargon with which you are often not conversant. You tend to learn about them only when you start utilising such facilities. Further, if are young and


Columnists More