Sri Lanka’s LMD-Nielsen Business Confidence Index shows improvement in economic sentiment in January
The latest LMD-Nielsen Business Confidence Index (BCI) poll reveals that sentiment surrounding the economy improved in January with 11% of respondents expecting it to get better in the next 12 months.
One businessperson has reportedly stated that “we expect some healthy and positive reforms by the Government which will help drive the economy forward this year.”
However, the majority (58%) of respondents had held a negative outlook while 31% feel that conditions will remain the same. When it comes to short and long-term business prospects, a majority (78% and 76% respectively) of those consulted by the pollsters expect sales volumes to remain the same or improve.
To this end, one corporate respondent has stated: “Our management has taken certain strategic decisions to push the company forward. Therefore, we expect business to improve both in the short as well as the long term.”
OSL take:
The improvement in economic sentiments in January this year is a positive development indicative of the overall growth in the economy. The improvement in the country’s economic conditions would undoubtedly make the country more attractive for foreign investments. Given the Sri Lankan government’s development agenda, foreign businesses/investors could explore business/investment opportunities in the country.
| Article Code : | VBS/AT/13022019/Z_1 |