Distrust by households about the economic future is slowing the growth of consumption.
The projections on consumption behavior made by the private sector for this year differ from government authorities.
A joint study by Unimer and El Financiero indicate that Costa Rican household consumption will grow 3.3% by the end of 2011, less than the 4.3% forecast by the Central Bank of Costa Rica. However, the projection of the BCCR may show some variation this month when a review of its macroeconomic program is presented.
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.
The Consumer Confidence Index in Costa Rica remained unchanged from February to March.
Developed by the University of Costa Rica (UCR), the Consumer Confidence Index stood at 53.5 in May, down from 54.2 in February (the scale goes from 0 to 100, anything over 50 implies a favorable outlook).
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.”
Situation Report for March 2009 by the Executive Secretary of the Central American Monetary Council (SECMCA).
The Central American - Dominican Republic region could experience economic stagnation or a slight decline in 2009. According to what was published in the February report, econometric projections of regional economic growth already considered that the area of economic stagnation is at its bottom point.
The study is related to the quarterly survey "Business Pulse" by the Costa Rican Union of Chambers and Associations of the Private Business Sector.
El Financiero, in its website, publishes: "The consumer confidence [index] measures the expectations for the first quarter of the year (January, February, and March). The score is measured from 0 to 10 in five categories: poor (0 – 2.5), same as poor (2.5 - 5), same (5), same as well (5 - 5.75) and very well (7.5 - 10). The sectors in which the decline in confidence was greatest are commerce and tourism."
The Guatemalan Index of Consumer Confidence revealed that households are spending less and are not saving.
Concern about the economic situation is causing consumers to reduce unnecessary spending, as well as their capacity to save. This is one of the results of the fifth measurement of the Guatemalan Index of Consumer Confidence (ICCG), carried out in August by the German Market Investigation Agency (GfK), in alliance with the Industrial Chamber of Guatemala.
The Inflation Expectations Survey revealed a some optimism regarding the behavior of the cost of living for the month of September and the next few months.
Analysts, who are consulted on a monthly basis, forecasted that (for this month) there will be a rate of inflation (for a 12 month period) of 13.15%, while for October and November 2008 they calculate that it will be 13% and 12.27% respectively.
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