Belizeans Show Increasing Optimism in Economic Prospects, SIB Reports

Belizeans Show Increasing Optimism in Economic Prospects, SIB Reports

Statistics have shown that many Belizeans are becoming increasingly optimistic about the country’s economic prospects. This is according to the latest Consumer Confidence Index (CCI) released by the Statistical Institute of Belize (SIB). The survey gauges how consumers feel about their current economic situation when compared to the past year, their outlook for the next twelve months, and their willingness to make major purchases at this time. According to the data, consumers’ confidence level in the month of March was at forty-four point eight; an increase of three point five percent over the forty-three point three recorded in February. Jacqueline Sabal, Acting Statistician – Grade One with the SIB explained that consumer confidence is still considered pessimistic, as it falls below the threshold of optimism, which is 50 on the index. However, there are an increasing number of people feeling that better days are coming. 

Sabal noted that since the CCI is a high-frequency index, it is easily subject to change. She said that various factors can influence the index on a month-to-month basis, but that the data can assist in making predictions on consumer trends. 

Belizeans between the ages of eighteen and twenty-four years old were the most optimistic about the economy improving. This was followed by persons between the ages of twenty-five and thirty-four.

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