Consumer and business confidence continues to grow in Jamaica, reaching a new all-time high in the first quarter of this year.
The pollster from Market Research Services – who completed the survey, Don Anderson, says consumer confidence continues to grow on the back of low unemployment. He says the latest figures indicate businesses are ready to invest. But he says businesses are sighting crime and the fluctuating dollar as the major deterrents to confidence.
In figures released today by the Jamaica Chamber of Commerce (JCC) the Consumer Confidence Index stands at 175 points. This surpasses the previous high of 169, set in the last quarter of 2018.
The business confidence index stands at 151 points; 10 points higher than the previous figure. According to Mr. Anderson, the latest figures are in line with growth in confidence in government policies since 2015.
Mr. Anderson points to the growing construction industry and low unemployment as factors driving consumer confidence. He says businesses are indicating they believe it’s a good time to invest.
Meanwhile, Mr. Anderson says crime and a fluctuating dollar are being cited as issues for business in the latest findings.