This index, measured by The Marketing Group, dropped to 71 from 89, where it was in May, signaling further deterioration in consumer confidence.
"Households are pessimistic regarding the economic situation for the next 12 months, and they are trimming their expenses, anticipating lower income. Employment expectations dropped in August, while saving power is the lowest since 2007 (58 points). This indicates that very few families are able to save money, as a result of the increase in unemployment", reports Elperiodico.com.gt.
In September, Consumer Confidence Index was 112 points, eight points higher than results in the previous month (104).
The measurements were made by consultants The Marketing Group for the Chamber of Commerce of Panama, it shows that consumers are confident that home situation in the future will improve, since the indicator remains 20 points above critical point.
As of June, the consumer confidence index was 114.9 points, 8.3 points higher than that of the previous month (106.7).
The General Manager of The Marketing Group, the company in charge of conducting the survey along with the Chamber of Commerce, expressed that “future consumer confidence related to home and country situation, appears to be positive, due to the hopes that Panamanians have for the next government.”
The Panamanian Consumer Confidence Index (ICCP) for the month of August was 101.8 points, that is, 11.9 points higher than that recorded in July, according to revelations by GfK The Marketing Group.
The budget payments for month 13 and recent measures announced by the government regarding social initiatives helped in part to improve the ICCP for August, after many months of having a negative tendency.
The consumer confidence index prepared by the German pollster GfK and Guatemala's Chamber of Industry shows a 17-point decline in consumer confidence betweenFebruary and May.
It's now 70 points below the critical level of 100, which reflects pessimism. It is lowest among women, persons older than 36 years, some segments of minors and some who live in the country's interior.
Receive more news about Economics
Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.
Sustainable 70 Acre Coffee Farm, San Ramon, Costa Rica Coffee Estate, development property with 20 titled lots, ready to develop with roads, water, power. Great Location, close to everything Ideal area for living or developing an ecologically...