BURNING ISSUES
Inflation continued to top the list of business concerns in June, maintaining its position as the main issue confronting corporates for the second consecutive month: more than half (52%) of surveyed executives cites inflation as their primary concern – up two percentage points from May.
In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, high taxes retains second place with marginally over four in 10 executives (41%) saying it is a major concern. This represents a notable increase of 14 percentage points from the previous month (27%).
INFLATION’S REIGN CONTINUES
Inflation retains its grip on business sentiment as economic pressures mount
Meanwhile, fuel shortages climbs from fourth to third place with 29 percent of respondents expressing anxiety – an increase of 10 percentage points from May (19%) – as prices at the pump continued to rise in June.
Interest rates follow as the fourth most cited worry with slightly over a quarter (27%) identifying it as such. Rounding out the top five is high utilities – just over a quarter (26%) say it a concern.
On a national scale, the economy overtakes the cost of living to emerge as the foremost burning issue with more than two-thirds (70%) identifying it as the country’s primary challenge – that’s an increase of 10 points from May (60%).
The cost of living ranks second, cited by 68 percent of respondents – up five percentage points from the month prior.
Meanwhile, a new concern enters the top three with the lack of daily essentials occupying third place and more than a third (34%) saying so. The impact of climate change slips to fourth place with nearly one in five (18%) highlighting it as an issue.
Rounding out the top five is the lack of security, cited by 11 percent of surveyed executives.
– LMD
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