Consumer confidence dips

 

 

The majority of consumers are not confident that the economic conditions of the country will turnaround for the better over the next 12 months. 

 

This was revealed in the findings of the latest Business and Consumer Confidence Survey for the July to September quarter, presented Tuesday morning by head of Market Research Services, Don Anderson.

 

Only 24 per cent of consumers surveyed thought business conditions were good, down from the 26 per cent recorded in the April to June quarter.

 

But for the 25 per cent of consumers who expressed a belief that business conditions will get better, he cited several reasons they had proferred: "They believe that there has been growth in some sectors, particularly tourism; entrepreneurship is on the rise, the economy is showing signs of improvement... and new investors and new investments (are) coming in."

 

On the other hand, he noted, "29 per cent in the second quarter and 35 per cent in the third quarter of 2024 believe conditions are going to get worse."

 

Among the reasons they cited are "high cost of living, government not assisting enough, lack of employment (despite the fact that unemployment is down to an all-time low, he noted)..., increase in crime, and lack of disposable income."