Costa Rica: Consumer Confidence Falls

Between February and May of this year the Consumer Confidence Index registered a 40% drop, which was caused by the health and economic crisis resulting from the covid-19 outbreak.

Friday, May 29, 2020

According to the Consumer Confidence survey conducted by the University of Costa Rica, between August and November 2019 the Consumer Confidence Index (CCI) rose from 28.5 to 32.3, however, by May of this year it had fallen to 19.7.

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Regarding the sharp drop, Johnny Madrigal, coordinator of the study, told Nacion.com that "... We've never had such a bad perception of the country's economic situation before."

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The report details that 76% of people consider that these are bad times to buy a house, 88% think that it is not the time to buy a vehicle and 83% would not be willing to buy appliances.

The article states that "... 53% of those interviewed have a strong uncertainty about their employment situation in the next 12 months. 33% said it is very likely that they will lose their job, while 20% do not know if they will have a job."

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More on this topic

Pessimism among Consumers Increases

September 2020

Between February and August of this year, the proportion of consumers in Costa Rica who expressed pessimism regarding the country's economic future increased from 33% to 47%, a rise that can be explained by the crisis resulting from the outbreak of covid-19.

According to the Consumer Confidence Survey conducted during August 2020 by the School of Statistics of the University of Costa Rica, people in the country expect increases in the cost of their loans in the next 12 months.

Consumers: Pessimism Continues in Costa Rica

February 2020

Although the Consumer Confidence Index reports increases in the last two quarters, the perception of the country's economy continues to be pessimistic.

According to the Consumer Confidence survey, conducted by the University of Costa Rica, between August and November 2019 the Consumer Confidence Index (CCI) rose from 28.5 to 32.3, and by February this year it had risen to 37.

Costa Rica: Consumption Slows

July 2011

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.

Costa Rican Consumer Confidence Remains Unchanged

May 2010

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).

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