By An Index of Consumer Sentiment (ICS) run by the Institute for Health Policy (IHP), an independent research institute in Sri Lanka, decreased 5 points to 17 points in November 2023. The IHP said in a statement on Wednesday, December 13 that the declines continue the trend of declining confidence since August. Consumer sentiment remains deeply pessimistic about current conditions and prospects, it added.
Declining consumer confidence can set off a chain reaction of negative economic consequences, affecting businesses, employment, financial markets, and overall economic growth.
