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SL’s Consumer Confidence stagnates in May

June 24, Colombo (LNW): Consumer confidence in Sri Lanka showed little change in May, remaining just below the March peak but experiencing a notable increase towards the end of the month, according to the Institute for Health Policy (IHP).

The Index of Consumer Sentiment (ICS), reflecting the public’s perception of personal and national economic conditions, decreased by one point to 29 in May.

The Index of Current Conditions (ICC), which gauges current economic sentiment, dropped by two points to 24. In contrast, the Index of Consumer Expectations (ICE), indicating future economic outlook, rose by one point to 33.

Despite these fluctuations, all three indices exhibited an upward trend in late May. However, they continue to reflect a pessimistic outlook overall.

The IHP’s Consumer Confidence indices, derived from the Sri Lanka Opinion Tracker Survey, reached new highs in March but have shown no significant improvement since then, with a slight decline in recent months.

These indices range from zero to 100, with scores below 50 indicating net pessimism.

The methodology used aligns with common practices in the United States and Europe, with data collected through telephone interviews.

These findings are based on 16,862 interviews conducted from 21 October 2021 to 7 June 2024, including 503 interviews in May 2024, with sample sizes adjusted to match the national population.

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