Home / Front Page/ Economic sentiment remains muted: Survey

Economic sentiment remains muted: Survey


Comments / {{hitsCtrl.values.hits}} Views / Friday, 14 September 2018 00:00


Sentiment surrounding the economy remained gloomy in August with the latest LMD-Nielsen Business Confidence Index (BCI) survey revealing that almost half of the businesspeople consulted expect the economic milieu to worsen in the next 12 months. 

A corporate executive claims that this is because of “a lack of competitiveness in the investment climate to help drive the economy forward,” and points to bribery and corruption as the main causes, LMD notes. In terms of business prospects, 15% and 19% of respondents feel that sales volumes will improve in the short and long terms respectively. One such optimistic businessperson states: “Although we are faced with unfavourable economic conditions, our company has put in place several strategies and processes to grow despite these adverse situations.”

When it comes to the investment climate, a minority (34%) of those surveyed perceive conditions to be ‘fair’ or better while the remaining respondents hold a more pessimistic outlook.

In one survey respondent’s view, conditions are “generally okay” as “there’s an improvement in foreign investments; however, the country does not possess a regime with a firm vision to take Sri Lanka forward.”

In contrast, another respondent’s assessment is that “the current investment climate in the country is in a very poor state.”

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

Its Cover Story features an exclusive interview with the Chairman of Unilever Sri Lanka Carl Cruz, in which he offers insights into Sri Lanka’s consumer landscape, foreign investment, public-private partnerships and thought leadership (for the full story, log onto 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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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

IPS’s State of the Economy Report 2018 is a demonstration of its independent analysis of the economy

Monday, 22 October 2018

Economists are at the receiving end of society today when it comes to economic crises. They have been blamed not only for giving confusing advice, but also for failing to predict accurately the oncoming economic catastrophes.


Future competencies for Sri Lankans: Rhetoric and reality

Monday, 22 October 2018

I was humbly happy to be the first Sri Lankan to speak at Fiji Annual HR Convention. It gave me a wonderful opportunity to meet warm people of another island nation. With booming tourism and bountiful natural resources, it appears as one of the most


Challenges in preserving and promoting Pakistan’s Buddhist past

Saturday, 20 October 2018

The international media has been portraying Pakistan as a hotbed of Islamic fundamentalism, especially after the Americans carried out a surgical strike there to kill international terrorist and fugitive, Osama bin Laden.


Government’s cohabitation stuck in the past or what?

Friday, 19 October 2018

The appointment of career judge Nalin Perera as the new Chief Justice, who has served in the judiciary for over 30 years, provides a snapshot into President Maithripala Sirisena’s thought process, amidst various stories of clashes with his coalitio


Columnists More