Panman’s consumer confidence in decline

Photo of author

By Lourdes Hurtado M.

he Panamanian Consumer Confidence Index (ICCP), according to the April measurement, recorded 79 points, with a decrease of 5 points, compared to the January 2024 measurement, which reached 84 points.

This measurement was presented Thursday by the Panama Chamber of Commerce, Industries and Agriculture (CCIAP), in alliance with The Marketing Group.

The president of The Marketing Group, Domingo E. Barrios W. pointed out that the Consumer Confidence Index remains with a decrease in its result. On this occasion, there is mistrust about the economic situation of the country and the home to the future.

This new measurement of the probability of saving money, over the next 12 months, marked a result of 72 points, with a decrease of 9 points, compared to the January 2024 measurement, which was 81 points. This indicator points to the downward chance of saving money in the future.

The new measurement of unemployment over the next 12 months marks an index of 97 points, 5 points above the previous measurement.

Sign up to receive exclusive content

In the April 2024 measurement, 34 per cent consider it highly likely to get a job and 23 per cent estimate it is quite likely to have a job.

Meanwhile, 14% think it is unlikely to get it, while 25% consider that they will not have a job and 4% do not know/ have no idea whether they will be able to get a job.

The study notes that consumers’ expectations of the economic situation of their homes in the future decreased by 11 points, from 92 to 81 points.

Since the September 2023 measurement, this indicator has presented a negative result, showing that there is mistrust about the economic situation of the home in the future.

The indicator on the outlook for the country’s overall economic situation for the next 12 months marked 68 points, droping by 5 points, compared to January 2024. This indicator continues to show a setback in consumer confidence in the country’s future economy.

It is worth mentioning that the National Survey of the Panamanian Consumer Confidence Index (ICCP), developed in Panama by the pollster The Marketing Group, with the collaboration of CCIAP, is a meter of consumer confidence, which aims to measure their perception of the current and future economic situation in the country, as well as on the living conditions of citizens.

This article has been translated from the original which first appeered in Panama America