Posted: Wednesday, March 26, 2025. 9:03 pm CST.
By Aaron Humes: The Statistical Institute of Belize has released its monthly Consumer Confidence Index (CCI), revealing a significant drop in consumer sentiment. In February 2025, the CCI stood at 46.0, reflecting an 8.9 percent decline from January’s reading of 50.5. This downward shift marks a concerning reversal after four consecutive months of increasing confidence.
The CCI is calculated from the results of a Consumer Sentiment Survey (CSS), done for two weeks starting on the second Monday of the month – so straddling the time most workers get paid, around the 15th of the month.
The CCI is a crucial measure of consumer attitudes regarding economic conditions and personal financial situations. With values ranging from 0 (completely pessimistic) to 100 (completely optimistic), a score below 50 indicates a prevailing sense of unease among consumers. In February, all three components of the CCI demonstrated decreases, signaling a more pessimistic outlook for the economy.
Sentiment regarding the current financial situation dropped by 9.4 percent, from a marginally optimistic 50.4 in January to a pessimistic 45.7 in February. Consumer hopes for the upcoming year also declined by 7 percent, falling from 59.6 to 55.4. Confidence in making significant purchases, such as homes and vehicles, plummeted by 11.1 percent, from 41.6 to 37.0.
The decline was felt across all districts, with the Corozal district experiencing the sharpest decrease, down 20.3 percent to 38.5. When considering the data by region, urban areas reported a more pronounced drop of 12.5 percent, while rural areas experienced a 6 percent decrease. Furthermore, the survey indicated a decline in confidence across all age groups, with the 35-44 age bracket seeing the steepest drop of 14.2 percent.
The overall decrease in consumer confidence raises concerns about future spending and economic growth. As households reflect on their financial well-being against a backdrop of shifting economic conditions, the findings underscore a growing need for strategies aimed at rebuilding consumer trust and optimism in the economy.
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