Panamanian Consumer: Confidence Improves at a Slow Pace

During March 2021, the Panamanian Consumer Confidence Index increased 2% with respect to the level reported in January of this year, this slight increase is reported in the context of the economic reactivation process of local production.

Friday, April 9, 2021

According to the survey conducted by the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP), in strategic alliance with The Marketing Group, expectations on the probability of saving money decreased 3 percentage points, presenting a result of 75 points, below the equilibrium point, for the measurement of March 2021, so it remains at levels of marked distrust.

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"The perception of unemployment marks a 96 percentage point index. This indicator still remains within the levels of distrust, although with a slight improvement, of one percentage point, uncertainty still persists in this indicator", informed the CCIAP.

The report states that "... consumers' expectations about the economic situation of their households went from 112 points (January) to 116 points (March), showing a 4 percentage point increase. This result indicates that consumers have expectations that in the short term their household situation will improve.

The indicator on the outlook for the general economic situation of the country for the next 12 months increased by 7 percentage points, from 107 (January) to 114 points (March).  These results remain at a level of mildly positive confidence.
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