S.I.B. Releases Consumer Confidence Index

How confident are Belizean consumers in the general economic conditions of the country?  It’s a question that the Statistical Institute of Belize sought to answer by collecting information that measures consumers’ sentiments regarding their household’s own economic situation, making major household spending, as well as general economic conditions.  The consumer confidence index stood at forty-five-point four percent in July 2024.  The index is comprised of three components, including perceptions about how present macroeconomic conditions and the household’s financial situation compare to twelve months prior.  It also looks at expectations about economic conditions, as well as the household’s financial situation over the coming twelve months.  Thirdly, it looks at whether the present is a good time for making major purchases of durable goods such as homes, cars, furniture, and appliances.  Elsewhere, the S.I.B. also indicated that consumer prices are up three-point-eight percent in July 2024, impacting food, restaurant services, home rental costs and liquefied petroleum gas.  Increases were observed in nearly all major categories of goods and services, except for information and communications.  Meanwhile, the External Trade Bulletin indicates that imports were up four-point-six percent, while domestic exports were up one hundred and twelve percent in July 2024.