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Statistical Institute of Belize’s first Consumer Confidence Index suggests Belizeans have moderate confidence on economic outlook in first months of 2024

Posted: Wednesday, March 27, 2024. 6:12 pm CST.

By Aaron Humes: The Statistical Institute of Belize is now measuring consumers’ sentiment, indicating how households are likely to behave about consumption and savings in a new measure called the Consumer Confidence Index (CCI).

Measured from September 2023 to February 2024, the CCI rose from a score of 34 to 43 on average, measured from 0 to 100 with a higher score indicating more confidence. However, the most recent CCI for February saw a slight decrease coming out of the so-called “mawga season.”

Consumers are asked to answer about their expected financial situation, present and general economic conditions, and making major purchases of durable goods. The more consumers feel safe concerning how the economy is going, the more they are likely to spend.

Consumers were generally more confident in urban areas than rural areas and among certain age and ethnic groups.

 

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