Economic sentiment picks up: Survey

Saturday, 22 August 2020 00:17 - - {{hitsCtrl.values.hits}}

Sentiment surrounding the economy continued to remain positive in July with 44% of participants in the latest LMD-Nielsen Business Confidence Index (BCI) survey stating that conditions ‘will improve’ in the next 12 months (up from 42% in June).

Additionally, a quarter of respondents say the economy is likely to remain the same during this period while 31% believe conditions will deteriorate.

The outlook for business over the next 12 months remains unchanged from the previous month with 68% of those consulted by Nielsen expecting sales volumes to increase. Meanwhile, 34% anticipate improvements in sales in the next three months – up from 27% in June. In contrast, sentiment regarding business performance compared to last year has declined with 5% of businesspeople spoken to stating that sales volumes have increased (compared to 15% in the previous month).

As for the prevailing investment climate, a mere six percent of corporate executives consider this a good time to invest in the country while a majority (51%) view conditions as ‘poor’ or worse. Furthermore, 43% of those polled describe the investment climate as ‘fair.’ The publisher of LMD, Media Services, says the August edition of the magazine has been released. Its digital edition is also available on WhatsApp and the publisher’s social media platforms.Economic...

In its 26th anniversary commemorative issue, LMD’s Cover Story pays tribute to 26 global icons who serve as role models for citizens of the world, with insights from a cross-section of relevant personalities from various fields (for the full story, log onto www.LMD.lk).