SIB: Belizeans Are Feeling Better About the Economy
Belize’s national Consumer Confidence Index (CCI) climbed to 42.6 in July, up 3.6 per cent from June’s 41.1. This marks the first monthly increase since the start of the year, according to the Statistical Institute of Belize (SIB).
The rise reflected improvements across all three components measured by the index. The “Present” component, which tracks how people view current economic conditions compared to a year earlier, saw the largest gain, rising 7.1 per cent from 37.6 to 40. 2. “Durable Goods” sentiment, reflecting attitudes toward major household purchases, climbed 3.3 per cent from 34.4 to 35.5, while “Expectations” about the future rose a more modest 1.2 per cent, from 51.4 to 52.0.
The improvement wasn’t uniform across the country. Orange Walk District recorded the sharpest gain, with confidence up 12.6 per cent, driven largely by a 45.6 per cent jump in willingness to purchase durable goods. Stann Creek moved in the opposite direction, posting the steepest decline nationally at 10.7 per cent, with “Expectations” there falling 19.2 per cent as residents grew notably more pessimistic about the future.
Urban consumers saw confidence rise 6.5 per cent, fuelled largely by a 16.9 per cent jump in durable goods sentiment as more people expressed openness to buying electronics, furniture, and vehicles. Rural confidence rose more modestly, up 1.4 per cent, driven mainly by improved sentiment about current conditions rather than future purchases, with rural durable goods sentiment actually falling 6.1 per cent.
By age group, adults aged 25 to 34 recorded the largest improvement in confidence, up 10.0 per cent, with notable gains across all three components. Younger consumers aged 18 to 24 moved the other way entirely, posting the sharpest decline of any age group, driven by a 21.6 per cent drop in durable goods sentiment alongside weaker views on both current conditions and future prospects.
Confidence also diverged by ethnicity. Creole respondents reported a 10.8 per cent improvement, driven by a 22.6 per cent jump in durable goods sentiment. Garifuna respondents saw the opposite trend, with confidence falling 10.7 per cent amid growing pessimism about both current conditions and major purchases.
By gender, confidence among men rose 2.4 per cent and among women rose 4.8 per cent, with women’s gains driven primarily by improved sentiment about current economic conditions.
The CCI is a monthly indicator ranging from 0 to 100, with scores above 50 generally signalling overall consumer optimism. SIB says the index offers an early read on future household spending, saving, and investment patterns, a leading signal for broader economic activity given how much of the economy depends on consumer spending.