Home / Front Page/ Economic sentiment declines: Survey

Economic sentiment declines: Survey

Comments / {{hitsCtrl.values.hits}} Views / Saturday, 18 May 2019 00:01


Sentiment surrounding the economy continued to deteriorate in April with a mere 9% of respondents saying it will improve in the next 12 months in the latest monthly survey for the LMD-Nielsen Business Confidence (BCI). 

A businessperson remarked at the time of the survey in early April that “although the rupee has appreciated slightly, it is still not performing well. Due to this, import prices remain high, taxes need to be paid on imports and the margins that our business can maintain are very low.”

Meanwhile, the outlook for business prospects also appears to have dimmed as 18% and 15% of those surveyed expect business to improve in the long and short terms respectively (down from 32% and 24% in March).

And as a spokesman for LMD says, “Sentiment is likely to worsen in the aftermath of the Easter Sunday terror attacks.”

“With the increase in taxes on goods and services, we have observed a drop in demand by customers and in this short while, we have also witnessed a drop in our business activities. We do not expect this situation to improve in the coming months,” states a corporate executive.

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

Its Cover Story features an exclusive interview with Manuela Goretti – the IMF’s Deputy Division Chief of its Asia and Pacific Department, and Mission Chief for Sri Lanka – in which she discusses Sri Lanka’s economic prospects and the Government’s reform agenda (for the full story, log onto www.LMD.lk).

Share This Article

Facebook Twitter


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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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


Today's Columnists

Industry 4.0, disruptive technology and MAS Matrix: An example for way forward in Sri Lanka

Monday, 16 September 2019

Technology has always been disruptive. When a new technology is introduced, it changes the way the humankind lives, behaves, earns, interacts and communicates. Some 10,000 years ago, when agriculture and animal breeding were domesticated through the

Radically reinvented reality: Relevance to Sri Lanka

Monday, 16 September 2019

I am delighted to be involved in the National HR Conference 2019, the largest HR event in South Asia. This time it is on the theme ‘Radically Reinvented Reality’. We need to take another look at the way we act institutionally and nationally, in u

Boeing in MAX-imum trouble

Monday, 16 September 2019

Boeing, America’s mighty aircraft manufacturer, is in deep trouble. The controversy surrounding the best-selling 737 MAX has refused to go away. The Federal Aviation Administration, the US aviation regulator, has spent over 110,000 hours addressing

Gotabaya Rajapaksa at Viyathmaga: Vision with an authoritarian zeal!

Monday, 16 September 2019

Gotabaya Rajapaksa has unveiled his national strategy or vision as a presidential candidate with an authoritarian zeal. This is clear from his Viyathmaga speech. He should be commended however for his fairly clear expression of views and objectives.

Columnists More