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Sri Lanka Consumer Confidence: Consumer confidence continued to slide in October in advance of 2023 budget
All indices fell 2–5 points with more pessimistic views about current conditions

The Institute for Health Policy (IHP) released today the October 2023 update of its Consumer Confidence Indices, which are generated from its Sri Lanka Opinion Tracker Survey (SLOTS).

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Consumer confidence fell again in October, continuing its slide from its peak in April 2023.

All indices remain at pessimistic levels with the biggest decline in the Index of Current Conditions, which tracks current conditions, and which fell 5 points to 13 points.

The Index of Consumer Sentiment (ICS), the broadest measure of the public’s view of their personal economic status and the national economy, fell 3 points to 22 points in October 2023.

The Index of Consumer Expectations (ICE), which tracks future perceptions fell 2 points to 28 points.

All IHP SLOTS consumer confidence indices range from zero to a potential maximum of 100, with levels below 50 indicating net pessimism.

The CCI estimates are based on 558 interviews conducted by telephone in October 2023 and 13,216 adults surveyed between Oct. 21, 2021–Oct. 31, 2023, with sample sizes varying between indices depending on response rates. All estimates are adjusted to be representative of the national population, including gender, age, ethnicity, and income level.

The SLOTS platform tracks public opinion and wellbeing daily using a large national panel recruited by face-to-face interviews and other randomly dialled respondents, with numerous peer-reviewed scientific publications that use the data. Inquiries to commission the platform to track specific issues are welcome and should be directed to dalreen `at’ ihp.lk.

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About IHP

IHP is an independent, non-partisan research centre based in Colombo, Sri Lanka. The SLOTS lead investigator is Dr Ravi Rannan-Eliya of IHP, who has trained in public opinion polling at Harvard University and has conducted numerous surveys over three decades.

Methodology

SLOTS combines data from a national sample of adults (ages 18 and over) reached by random digit dialling of mobile numbers, and others coming from a national panel of respondents who were previously recruited through random selection. All consumer confidence index estimates are weighted to be representative of the national population, including characteristics such as age, gender, province, sector, socioeconomic status, ethnicity and education.

Funding

The SLOTS has been funded by the Neelan Tiruchelvam Trust, the UK National Institute for Health and Care Research (NIHR), The Asia Foundation in Sri Lanka, and others, but the sponsors play no role in the study design, analysis, or interpretation of findings. Interested parties can contact IHP for more detailed data and results.

EMBARGOED UNTIL:

Date: 14 November 2023 
Time: 12:00 PM Sri Lanka Time

For further information Contact:

Dalreen Barthelot, Email: [email protected]

To contact lead investigator:

Dr. Ravi Rannan-Eliya, Email: [email protected]