Economic perceptions continue to be negative: Survey

• Published date: 09 August 2022
• Publication title: Daily Financial Times

While there is an ever-so-slight uptick in economic perceptions, despite the state of the State, the big picture is that Sri Lanka's economic prospects continue to be viewed with anxiousness by the business community, says leading business magazine LMD, in its August edition.

'The country is at a breaking point with frustrations riding high,' observes NielsenIQ's Director - Consumer Insights Therica Miyanadeniya.

She continues: 'In this environment, the Business Confidence Index (BCI) has remained static at 49 while the Consumer Confidence Index (CCI) declined by three basis points to an unthinkable 12 from last month's 15.'

However, LMD reports that: 'There's reason for cautious optimism as the most drastic assessment of the economy since the LMD-NielsenIQ BCI survey commenced in January 2003, June's massive majority (88%) of respondents to poll who anticipated a deterioration in the next 12 months, has improved to 82%.'

A spokesman for LMD adds: 'For the first time in six months, this optimism is also seen in business executives who expect an improvement - from 4% in June to 15% in early July.'

LMD notes: 'This sense of...