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SLOTS Consumer Confidence Survey 2023-01 |
Sri Lanka Consumer Confidence: Consumer confidence drops back in December, following the November gains |
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Kumara N., Ghafoor A., Wisidagama N., Kapuge Y., Rannan-Eliya R P
25 Jan 2023
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Abstract: The Index of Consumer Sentiment (ICS) decreased 4 points to 16 points in December 2022, after a significant improvement in the previous month. The ICS is the broadest measure of the public's views of their personal economic status and the national economy which ranges from zero to a potential maximum 100.
The fall in overall consumer confidence was driven by declines in expectations about the future, with the Index of Consumer Expectations (ICE), a measure of perceptions of the future, decreasing 7 points to 22 points, whilst the Index of Current Conditions (ICC), a measure of perceptions about current conditions increased 1 point. The decline in future expectations was broad-based, with declines in assessments of both the country and personal situations, as well as short term and longer-term prospects.
Despite a slight improvement in buying conditions, views about current buying conditions remains at very low levels (below 10 points), suggesting consumer demand for large purchases will remain subdued. |
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