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WiredJa Online News

Business and consumer confidence at unprecedented high level

Featured Managing Director of Market Research Services,Don Anderson.  - file photo Managing Director of Market Research Services,Don Anderson. - file photo
KINGSTON,  April 20, 2016 - The recently released Business and Consumer Confidence Index has placed Jamaican business confidence at a record high for the first quarter of this year.
    
Managing Director of Market Research Services,Don Anderson, said this is the highest recording since 2001. "It surged some 17 percentage points over the fourth quarter of 2015...This represented a continuation of the very strong positive growth in the confidence level recorded virtually throughout the 2015 period," he said.       
 
Mr. Anderson said the passing of successive IMF tests by the previous government was a contributing factor of this record figure. 
 
Among the other factors he listed were that "the country's stock exchange was voted the best performing in the world, the country was voted amongst the most favourable countries to do business in the Caribbean and there were significant benefits from reduced global oil prices."   
 
Mr. Anderson also said consumer confidence remained at a high level for the second consecutive quarter "moving by 19 percentage points compared to the 20 per cent in fourth qaurter of 2015."
    
He attributed this to the recent general election, saying "we've shown over the period of the surveys that... there are signifcant peaks (which) tend to build up towards an election and it tends to taper off within three to six months after an election."

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