Consumer Confidence Drops To 2-year Low As Business Confidence Continues Decline

1212
William Mitchell reports.

For the first time in almost two years, the country has recorded a decline in consumer confidence.

After reaching historic highs in the first quarter of 2019, business confidence has continued its descent which started at the end of the second quarter of this year.

Despite the decline, confidence remains historically high among businesses and consumers.

That’s according to CEO of Market Research Services Limited, MRSL, Don Anderson, whose entity conducted the survey.

Mr. Anderson says consumer confidence has dipped for the first time in almost 2 years.

He says consumers are confident about existing jobs, but they’re skeptical about the availability of future jobs.

Meanwhile, Mr. Anderson says business confidence continued its decline which started in the second quarter of this year.

According to the pollster, one of the factors driving the decline in business confidence is a level of skepticism that businesses will not maintain the profit margins they’re now enjoying.

Mr. Anderson says business are still bullish on investment, but, fewer are now convinced it’s a good time to invest.

According to Mr. Anderson, the feeling that the economy is improving, a reduction in unemployment and confidence in government programmes are reasons for optimism.

But, he says companies are still worried about the fluctuation of the Jamaica dollar on the foreign exchange market.



William Mitchell is a sports-fanatic turned journalist. He graduated from CARIMAC in 2016. He interned at the Jamaica Gleaner covering sports and joined NNN in 2017. Mitchell covers crime for Nationwide. He’s been to every single zone of special operations across the island.


Leave a Reply

Your email address will not be published. Required fields are marked *