There was little change in overall consumer confidence in September in IHP’s SLOTS tracking survey. The Index of Consumer Sentiment (ICS), the broadest measure of the public’s view of their personal economic status and the national economy was down 1 point to 25 points in September 2023, within the margin of error. The ICS ranges from zero to a potential maximum of 100, with levels below 50 indicating net pessimism.
The data suggest though a continuing, slow slide in optimism about the future balanced by stable, but pessimistic views about the current situation. The Index of Consumer Expectations (ICE), which tracks future perceptions fell 2 points to 30 points. The Index of Current Conditions (ICC), a measure of perceptions of current conditions was largely unchanged at 18 points (+1).
The CCI estimates are based on 588 interviews conducted in September 2023 and 12,658 adults surveyed between Oct. 21, 2021–Sep. 30, 2023, with sample sizes varying between indices depending on response rates.
The IHP Sri Lanka Opinion Tracker Survey (SLOTS) was launched in August 2021 to track public experience and opinion during the recovery from COVID-19. It has been extended to track public perceptions during the economic crisis. It is run by the Institute for Health Policy (IHP), which is an independent, non-partisan research centre based in Colombo, Sri Lanka. The SLOTS lead investigator is Dr Ravi Rannan-Eliya of IHP, who was trained in public opinion polling at Harvard University, and who has conducted numerous opinion surveys over three decades.
SLOTS interviews representative samples of Sri Lankan adults daily by telephone to gather their current views and situation. All interviews include a core set of common questions, with additional rotating sets of other questions that examine issues of topical importance. The survey is made possible by the generous funding support of the Neelan Tiruchelvam Trust, the UK National Institute for Health and Care Research (NIHR), the Asian Foundation, and others. The survey has an omnibus design, and the Institute welcomes sponsorship to continue the survey, to add new questions, or to undertake tailored analyses of the data. Potential sponsors should contact the Institute for further details.
SLOTS respondents consist of a mix of respondents reached by random digit dialling of mobile numbers, and others coming from a national panel of respondents who have agreed to be re-interviewed, and who were previously recruited at community level using random selection. As with any survey, bias can arise from the sampling design and non-response, which means that respondents are not representative of the underlying population. To adjust for this, unless otherwise noted, all reported estimates and analyses use data that have been weighted to ensure that they are representative of the national adult population. This weighting process uses propensity weighting and iterative proportional fitting (raking) to match the national population according to gender, age, ethnicity, religion, socioeconomic ranking, sector, and geographical location, and where appropriate past voting behaviour.
© Institute for Health Policy 2023
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Institute for Health Policy, October 2023, “Sri Lanka Consumer Confidence: Consumer confidence flat but pessimistic in September”, SLOTS Report #2023-15.