âEconomic optimism returns as the encouraging reliefs after several months of intense hardship seem to have a positive bearing on both the Business Confidence Index (BCI) and Consumer Confidence Index (CCI),â reported business magazine LMD, in its September edition.
âThe BCI has risen by 32 basis points to 81 from last monthâs dismal 49 points. The CCI has picked up in spite of high inflation and moved six basis points to 18, from last monthâs 12 points,â observed NielsenIQâs Director â Consumer Insights Therica Miyanadeniya.
Some of Julyâs sense of positivity has carried over into August, LMD notes, adding: âAs we see a decrease once more (from 82% to 73%) of respondents to the LMD-NielsenIQ BCI survey who have a drastic assessment of the economy, and anticipate a deterioration in the next 12 months.â
The magazine also noted that âthere is only a slight movement of opinion among businesspeople who expect an improvement â but still encouragingly in double digits, from 15% in early July to 12%. Furthermore, the number of executives who expect the status quo to continue for a further 12 months has risen dramatically from three in every 100 respondents to 15â.
âThough there is still ground to cover to reach the level of confidence of six months ago (79%) with regard to an improvement in sales volumes, 61% of businesspeople polled in August said that their companyâs sales volumes will âstay the sameâ or âget betterâ in the 12 months ahead,â it added.
Media Services, LMDâs publisher, said the latest edition of the magazine has been released. Its digital edition is also available on WhatsApp and the publisherâs social media platforms.
Its exclusive Cover Story, CIMAâs recently appointed President Melanie Kanaka was quoted as saying that: âItâs no secret that our country is going through challenging economic times but weâre an incredibly resilient nation and will come out stronger.â
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Certainly good news in these gloomy times