The 1st quarter 2022 indices of business and consumer confidence have shown little significant change over the preceding 4th quarter of 2021, reflecting relative stability in Jamaica’s economic expectations. The stability is deemed a positive development as the nation prepares to adjust to initiatives to fully re-open the economy and emerge from the COVID-19 era.
The study conducted between January and March 2022 centres around a sample of 117 businesses and 646 consumers from across Jamaica.
Executive Chairman of Market Research Services Limited, Don Anderson notes consumers are optimistic that their individual economic prospects will improve as the economy opens up and more job opportunities are created. At 157 points, the overall index remains below the pre-pandemic level of 170 points but remains 30 percent higher than the corresponding period in 2021. The data suggest that firms remain generally bullish in their optimism about the current climate for investment and expansion as well as profitability.The confidence study indicates business confidence moved from around 115 points at the end of the 1st quarter of 2021 to just over 131 points at the end of the first quarter of 2022.
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