Confidence in the economy continues to rise with consumer indices reaching record highs and business confidence also increasing in the first quarter of 2019.
This is according to the Jamaica Chamber of Commerce (JCC) Business & Consumer Confidence Indices, released Tuesday, April 9.
The Index of Consumer Confidence registered a record high of 177.5, climbing from the previous record of 169.9 posted for the 4th Quarter of 2018. This means that between 2014 and the first quarter of 2019, Consumer Confidence has grown by 74 percentage points.
According to pollster Don Anderson of Market Research Services who conducted the surveys from which the Confidence Indices are derived, consumers have bought into the Government’s stated policy of debt containment and more prudent fiscal discipline despite the hardships which this created.
According to the survey, Business Confidence moved from 141 to 151 points.
Mr. Anderson said “Over the last three years, from 2016 to 2018, the business index hovered around the 140 mark. The 151 achieved in 2019 first quarter represents a substantial growth in business confidence.” He said this was so despite the challenges created by road construction programmes in the Capital city “and what many describe as an unstable dollar which makes efficient planning difficult”.
He said however that businesses are still optimistic about their investment plans.
The results were presented at the Spanish Court Hotel St. Andrew, Tuesday, April 9.