Business confidence surges

In a reversal of the downward trend witnessed in recent months, the LMD-Nielsen Business Confidence Index (BCI) shot up by 39 basis points to 122 in January. 

Leading busines magazine LMD notes that this places the index a notable 12 notches above the average for the last 12 months.

Nielsen’s Director – Consumer Insights Therica Miyanadeniya attributes this positive momentum to a renewed sense of hope.

“The world embraced 2021 with much hope and anticipation of better things to come. While the New Year celebrations were subdued, anticipation of an improved 2021 was evident,” said Miyanadeniya.

According to LMD, the impact of the coronavirus continues to be the most pressing issue for businesses in Sri Lanka, followed by bribery and corruption, and inflation.

A spokesperson for the business magazine notes that this edition of the BCI was compiled when there were “mixed messages about when Sri Lanka would roll out an immunisation program.”

Given the clarity that has emerged more recently with the four million vaccines courtesy WHO-Covax to be received in a month or so and the arrival of a consignment of COVISHIELD (Oxford-AstraZeneca) doses from India, she says: “Should we see more light at the end of what’s been a long and dark tunnel, business confidence will surely reach for higher ground.”

The publisher of LMD, Media Services, says the latest edition of the magazine will be released shortly, while its digital version is available on WhatsApp and its social media platforms.

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