Economic sentiment continues to wane: Survey

Friday, 6 August 2021 03:55 - - {{hitsCtrl.values.hits}}

The results of the latest LMD-NielsenIQ Business Confidence Index (BCI) survey indicate that sentiment surrounding the economy continued to regress in July as 59% of respondents say that economic conditions are likely to deteriorate in the coming 12 months – a notable increase from 49% recorded in June.

Meanwhile, 10% of those polled feel that conditions are likely to improve during this period while another 31% say the economy will ‘stay the same’. According to the survey sample, long-term prospects for business are likely to improve. More than half (56%) of those consulted by NielsenIQ anticipate an increase in sales volumes in the next 12 months.

The outlook for the short term has also improved slightly with 16% of respondents expecting an increase in sales over the next three months. On the other hand, a majority (61%) of executives believe that sales will ‘stay the same’ in the coming three months.

Where the investment climate is concerned, 6% (compared to 3% in the previous month) describe conditions as ‘good’ while 16% say it is ‘fair.’ However, a majority (78%) do not consider this to be a good time to invest in Sri Lanka.

The publisher of LMD, Media Services, says the July edition of the magazine has been released. Its digital edition is also available on WhatsApp and the publisher’s social media platforms.

In its 27th anniversary commemorative issue, LMD’s Cover Story pays tribute to 27 Past Business Icons who steered their organisations through numerous calamities during the magazine’s journey, which began with its pioneering launch in 1994 (for the full story, log onto www.LMD.lk).