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    SLOTS Consumer Confidence Survey 2022-07

    Sri Lanka Consumer Confidence: Consumer confidence continued to decline in June

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    Rannan-Eliya R P., Selvaratnam A., Wisidagama N., Kapuge Y., Senadeera A., Wijemunige N.
    30 Jul 2022

    Abstract:The Index of Consumer Sentiment (ICS), which is the broadest measure reflecting the public's views on their personal economic status and the broader national economy, fell 4 points from 6 in May to 2 in June, close to its lowest potential level of 0. The Index of Consumer Expectation (ICE), which captures Sri Lankans' views about the future, also fell from 4 points to 1 in June, indicating that sentiment is being driven by increasing lack of confidence in the future.

    The Index of Consumer Conditions (ICC) a broad measure of perceptions about current conditions, also fell from 6 to 4 in June.

    This worsening in sentiment is despite the resignation of the Prime Minister and Cabinet in early May but coincided with growing numbers of people turning out on the street and calls for the President to resign. The deterioration in the economic situation with continuing power cuts, lack of fuel and transports, and worsening shortages of items undoubtedly contribute. Overall, the public remained deeply pessimistic about conditions and the future during June.




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