LMD-Nielsen Business Confidence Index on Sri Lanka shows increase in February
The latest edition of Sri Lanka’s LMD business magazine reports that the LMD-Nielsen Business Confidence Index (BCI) has increased 14 basis points to register 115 in February.
The leading business magazine has reportedly stated that this follows an increase of 11 basis points in the previous month and also puts the index above its average of 101 for the last 12 months.
However, LMD has noted that the index remains 12 basis points below where it stood a year ago.
Nielsen’s Managing Director Sharang Pant has been quoted as saying: “The tailwinds behind the improvement in sentiment remain the same – political stability, low inflation, healthy tourist arrival numbers and a marginal appreciation of the rupee versus the dollar.”
A spokesperson for LMD has been quoted as saying: “The index may continue to trend upward in the short term, given expectations that the Budget 2019 would be business friendly.”
The spokesperson has further noted: “For now, there seems to be a renewed sense of optimism about business prospects as well as the national economy.”
OSL take:
The increase recorded by the LMD-Nielsen Business Confidence Index on Sri Lanka for a second consecutive month is a positive indication on the country’s economic conditions. Key sectors of the Sri Lankan economy have shown continuous signs of growth and added with Sri Lanka’s development drive, the island nation is poised to attract foreign businesses/investors to the country with many business/investment opportunities.
| Article Code : | VBS/AT/12032019/Z_5 |