Economic sentiment gathers momentum: Survey

Saturday, 19 September 2020 00:05 - - {{hitsCtrl.values.hits}}

Sentiment surrounding the economy continued to rise in August with a majority (56%) of business people consulted for the latest LMD-Nielsen Business Confidence Index (BCI) survey saying that economic conditions are likely to improve over the next 12 months – up from 44% in July.

In contrast, 14% of respondents expect the economy to deteriorate during this period while three in 10 of those polled believe conditions will remain the same.

As for long-term business prospects, two-thirds of those consulted by Nielsen state that sales volumes will improve in the next 12 months, which is by and large the same as in the previous month. Prospects for the next three months have improved as 52% of corporate executives feel that sales volumes will increase compared to only 34% in July.

When it comes to the investment climate, more than a fifth of respondents view it positively, describing conditions as ‘good’ (up from 6% in the previous month).

Conversely, slightly over four in 10 business people view prevailing conditions negatively and do not believe that this is a good time to invest. However, 37% of executives consider the investment climate to be ‘fair’.

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

Its cover story features the 40 Best Workplaces in Sri Lanka, based on the Great Place To Work Institute’s assessment (for the full story, log onto www.LMD.lk).