Women Grow Pessimistic About the Economy

Belizean consumers are the most pessimistic they have been in almost two and a half years, according to the latest figures by the Statistical Institute of Belize (SIB). 

The October report for the month of September shows that the national Consumer Confidence Index fell 9.6% to 38.4, from 42.4 in August. It is the lowest reading since April 2024. The index measures public sentiment about current economic conditions, future financial prospects and whether it is a good time to make major household purchases.

All three components declined, but sentiment about buying durable goods, such as furniture, appliances and vehicles, recorded the sharpest drop, falling by 13.4% to 31.0. Confidence in current economic conditions and household finances fell by 11%, while expectations for the next 12 months dropped by 5.8%.

The decline was particularly pronounced in rural areas, where confidence fell by 13.9%, compared with a 3.8% decrease among urban consumers. Women reported a 14.2% decline, more than four times the 3.2% drop among men.

Stann Creek recorded the steepest district-level decline, with confidence plunging 24% to 33.8. Orange Walk was the exception, registering a 13.9% improvement to 37.8, although sentiment there remained pessimistic.

People aged 45 to 54 recorded the biggest fall among age groups at 20.7%, to 36.3. Those aged 55 and older improved 14.0%, to 38.7. Among ethnic groups, Garifuna respondents saw the largest decline at 15.4%, to 38.5.