Consumers: Confidence Improves, Uncertainty Remains

Although between August and November 2019 the confidence index grew 13% in Costa Rica, consumers still have a significant degree of uncertainty.

Thursday, November 28, 2019

El resultado muestra que, aunque la confianza se incrementó significativamente en los últimos tres meses, lo hizo en una magnitud moderada. Esto significa que, pese al aumento de la confianza, los consumidores todavía conservan un grado de incertidumbre importante. Una revisión de toda la serie indica que el año 2019 se caracteriza por presentar un grado de pesimismo importante, como no se había observado antes en un período tan prolongado, informó la Universidad de Costa Rica.

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The document explains that "... The ranking of consumers reflects the increase in confidence, as in the last three months pessimists fell from 52.5% to 45.9% and optimists rose from 8.6% to 12.3%. This means that currently, for every optimistic consumer there are 3.7 who are pessimistic, a figure that was 6.1 three months ago. Another way to observe the increase in confidence is the balance of optimistic consumers less pessimistic, as it changed from -43.9 to -33.6 percentage points (pp).

The trend of the ICC in different population segments shows that the increase in confidence in the last three months occurred in men and women, in different age groups and levels of education. Something similar is deduced when analyzing the number of recipients of household income, the amount of family income they receive, the indicator of the capacity to make discretionary expenditures and the economic situation they say they are experiencing because of the monthly family income they receive (subjective income).

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More on this topic

Consumers: Pessimism Increases in Costa Rica

August 2019

Between February and August of this year, the Consumer Confidence Index decreased six points, as a result of people not perceiving effective and short-term measures that tend to revive the national economy.

The current level of confidence reflects consumers pessimistic about the economic situation, a condition that has been present for a year, according to the report prepared by the School of Statistics of the University of Costa Rica.

Economic Challenges Ahead

February 2019

The pessimism expressed by consumers in Costa Rica and the constant deterioration of business expectations in Guatemala reflect part of the complex challenges faced by Central American economies this year.

A report prepared by the School of Statistics of the University of Costa Rica (UCR) shows the negative trend that come showing the economic expectations, because between February 2018 and the same month of 2019, the Consumer Confidence Index (ICC) fell 15%.

Downturn in Consumer Confidence

August 2018

The uncertainty about the future of the tax reform that is being discussed in the Assembly is the main reason behind the decline in consumer confidence in Costa Rica.

The Consumer Confidence Index (CCI) calculated by the University of Costa Rica (UCR) shows a reduction of close to 10 points between the months of June and August. 

Guatemala: Consumer Confidence Drops

September 2009

The consumer confidence index dropped 18 points when compared to May.

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.

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