Consumer confidence hits record high in June

Sri Lanka’s consumer confidence expanded in June, reaching an all-time high, a report from the Institute for Health Policy (IHP) showed.

The Index of Consumer Sentiment (ICS), the broadest measure of the public’s view of their personal economic status and the national economy increased 7 points to 36 points. In June, all three consumer confidence indices increased.

The indices are generated from the Sri Lanka Opinion Tracker Survey (SLOTS).

The Index of Consumer Expectations (ICE), which tracks future perceptions also increased 7 points to 40 points and the Index of Current Conditions (ICC), a measure of perceptions of current conditions, increased 6 points to 30 points. 

This is the highest indices value recorded since late 2021. 

The Current Buying Conditions measure reached a new peak of 29 points in June, indicating an increased demand for purchases. 

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 17,179 interviews conducted between 21 Oct 2021–  7 Jul 2024. A total of 447 interviews were conducted in June 2024, with sample sizes varying between indices depending on response rates. 

All estimates are adjusted to represent 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 dialed respondents, with numerous peer-reviewed scientific publications that use the data.