Consumer Confidence Inches Up But Outlook Still Pessimistic

And while the cost of living is still rising, the Statistical Institute of Belize says many Belizeans are expecting the economy to improve. Data from the SIB’s latest Consumer Confidence Index (CCI) shows that public sentiments on the country’s economic prospects were up by 7.8 percent in March. The monthly CCI tracks public sentiment on their current financial position, outlook for the next year, and whether they believe now is the time to make major purchases such as furniture, vehicles, or homes. In the survey, a score below 50 means that consumers are pessimistic about the economy, while 50 or above indicates optimism. While the outlook did improve by just under 8 percent, the overall score was 49.6, falling just below optimistic. Jacquelyn Sabal, Manager of Economic Statistics and the SIB, said that the improved outlook was observed countrywide, particularly in the south. 

Jacqueline Sabal, Manager, Economic Statistics Dept, SIB: “Sentiment regarding the whole school’s present financial situation, meaning how they feel now compared to 12 months in the past, that increased by 6.7 % from 45.7 in February to 48.7 in March. When it came to their expectations, meaning how they’re feeling now compared to 12 months into the future, that index increased by 5.7% from 55.4 to 58.5, meaning it already passed that optimistic threshold when it came to expectations. For durable goods, meaning that we asked persons whether they thought now was the right moment to make major purchases of furniture, car, a home, et cetera. That index also showed growth that was in the subcomponent with the largest increase at 12.3 % from 37 to 41.6. It hasn’t for durable goods, it did not pass to be at the level of optimism but they were definitely feeling less pessimistic. When we look at the consumer confidence index by district. For the month of March 2025, confidence was up across all six districts. Consumers in Stann Creek reported the largest improvement in their CCI which rose by 19 % from a pessimistic 46.9 in February and to now 55.9 in March. So they crossed over into  optimism. Within this district, within Stann Creek, sentiment was up across all three subcomponents. So that’s present expectations and durable goods. In Toledo, they experienced the smallest increase in confidence. The CCI for that district rose by 1.6 percent, very modest growth, from 50.6 in February to 51.4 in March.”

Sabal noted that the SIB will be conducting further analysis of the data to determine factors that may be influencing consumer confidence.