Don Anderson - file photo
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Don Anderson, CEO of Market Research Services Ltd.
Consumer confidence in the economy rose by five percentage points in the first quarter of this year, despite concerns that the economy registered low growth over the last two quarters of 2024.
On the other hand, there was an eleven per cent decline in business confidence.
That's according to the latest quarterly Business and Consumer Confidence Survey released today by Head of Market Research Services, Don Anderson at a meeting of the Jamaica Chamber of Commerce.
The survey covered the period January to March.
But Mr Anderson cautioned that the increase was fueled by consumers in resort areas, which have seen an explosion of hotel construction. He observed that these consumers are more confident in their financial prospects than people living in the Corporate Area.
He said consumers are also confident of their job prospects with potential growth in the business sector.
Fifty-seven per cent of business operators surveyed are bracing for a dip in profits.
Remittance
Mr Anderson also confirmed that Jamiaca continues to experience a decline in remittance inflows.
Many Jamaicans rely on remittances to supplement their income.
But according to the pollster, inflows have been steadily declining since the onset of the Covid-19 pandemic.
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