Jamaican businesses are growing increasingly reluctant to invest and expand their current operations because of several socio-economic factors including crime and the fluctuating exchange rate.
That’s according to the latest business and consumer confidence survey findings released today.
The survey shows that overall, business confidence is down for the first time since the third-quarter of 2018, though marginally.
But it’s still the second highest on record since 2016.
Managing Director of Market Research Services, Don Anderson, says these factors are leading businesses to be more reserved in their long-term planning.
He says profits for the quarter ending June 31 were lower than anticipated, down by some 6-percentage points.
Despite the dip in business confidence, Mr. Anderson says consumers are growing more optimistic about the state of the economy.
