Business confidence has dipped slightly but consumers are still very optimistic about their prospects rising.
Those are the latest findings of the Jamaica Chamber of Commerce’s First Quarter Business and Consumer Confidence Survey for 2018.
However, the lead researcher, pollster, Don Anderson, who conducted the survey, is assuring the country that overall confidence in the Jamaican economy remains high.
Don Anderson says for the first quarter of 2018, business and consumer confidence has moved in separate directions breaking a long-running trend.
The latest results show Consumer Confidence moving from 148-points to 156.4 points.
However, Business Confidence went from 142.6 points to 136.5 points.
Mr. Anderson says consumers have bought into the idea that the economy is growing but do not anticipate any immediate improvement in their standard of living. He says consumers have adopted a more conservative wait-and-see approach and are avoiding excessive spending.
On the business side of things, Mr. Anderson says despite the dip, confidence among companies remains high.
He’s urging people not to jump to hasty conclusions based on a single quarter.
Meanwhile, Mr. Anderson says the positive trend of consumer confidence could result in increased entrepreneurship. He says more Jamaicans are finding more creative ways of alleviating their economic hardships.