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Pioneering business magazine LMD notes, in its forthcoming February edition, that the unique index that measures business confidence has soared for the fourth consecutive month “as economic indicators strengthen.” In January, the LMD-PEPPERCUBE Business Confidence Index (BCI) soared by 24 basis points, marking its highest point since January 2015, LMD reports. “The BCI is now approaching its all-time high of 204, recorded in September 2015 – also in the aftermath of a General Election,” it observes.
LMD continues: “Ironies aside, the index now stands 75 points above its historical median of 123 and is 79 points higher than its 12-month average of 119. For context, the BCI stood at 82 basis points at the same time last year.” Meanwhile, PepperCube Consultants notes in the magazine that improved foreign exchange reserves and healthier trade balances, marked by reduced currency volatility and increased export activity, have boosted sentiment.
A spokesperson for the magazine adds: “How the forthcoming Budget will impact the business community will be key to driving the index in the near term.” She adds: “The months ahead are likely to be characterised by a mix of uncertainty and speculation, though the pendulum may swing past the BCI’s all-time high against the prevailing backdrop of heightened confidence about the economy.” LMD’s publisher, Media Services, says the latest edition of the magazine will be released shortly.
Its digital version has also been shared on the publisher’s social media platforms (the full BCI report will be uploaded on its website – www.LMD.lk).
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