Economic sentiment continues to improve: Survey

The latest LMD-Nielsen Business Confidence (BCI) poll reveals that sentiment surrounding the economy improved for the second consecutive month. According to the only survey of its kind in this country – which was conducted in the first week of November – 19% of respondents expect the economy to improve over the next 12 months compared to 8% percent in October.

While more than a third of respondents expect conditions to deteriorate during this period, the majority (46%) of those polled believe that the economy ‘will stay the same.’

One upbeat survey respondent says: “Now that the government has changed, the economy will improve and in turn, our business will also benefit.”

Business prospects are also expected to improve in the long term with 35% of those polled holding the view that sales volumes will increase. On the other hand, only 28% expect short-term sales volumes to improve.

Perceptions of the investment climate remain dim as only 7% of those consulted by the Nielsen consider it to be ‘good’ while 93% view the environment as being ‘fair’ or worse. A biz executive states: “It is hard to say if the investment climate will improve as many investors both foreign and local are uncertain about the economy – and especially the political climate. As it is, we have witnessed a few investors pulling out in the last few weeks.”

Media Services, the publisher of LMD, says the December edition of the magazine has been released to leading supermarkets and bookstores in Colombo and the outstations.

Its Cover Story features LMD’s 24th ‘Sri Lankan Of The Year’ (a.k.a. SLOTY) – Dr. Asha de Vos. It  highlights her commitment to increasing awareness on northern Indian Ocean blue whales and inspiring the next generation of marine biologists (for the full story, log onto www.LMD.lk).