Consumer Confidence Falls Amid Economic Concerns

Belizeans are not only worried about today’s economy. They are also losing confidence in what lies ahead. The Statistical Institute of Belize’s Consumer Confidence Index slipped from forty-two-point-six percent in July to forty-two-point-two percent in August, signaling growing concern about household finances, spending and savings. Consumers feel less secure about their current economic situation and are increasingly uncertain about the next twelve months. The figures also reveal a noticeable divide, with men reporting far less confidence in their financial outlook than women.

 

Juan Blanco, Statistician 2, SIB

“The largest improvement was observed in Stann Creek as sentiment increased from 38.4% to 48.5%. This was mainly driven by residents becoming less pessimistic about current economic conditions as well as their household situations. On the other hand, the northern districts, Orange Walk and Corozal experienced notable declines in consumer confidence, indicating notable pessimism among its residents. For males, the CCI declined by seven point five percent during the month, with male consumers reporting higher levels of pessimism. This was due to declines across all three components, with the expectation component showing the largest decrease. In contrast, the CCI among females increased by 5.5% between July and August, indicating that female consumers became less pessimistic.”

 

Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.

 

Watch the full newscast here: