Consumer confidence in Panama rose 13 points in January

He Panama Index of Consumer Confidence (ICCP) It stood at 84 points in January, 13 points higher than the previous measurement (November 2023), given better expectations about the economic situation over the next 12 months, according to survey results published this Tuesday.

In a survey measured by the ICCP, which he conducted Marketing Group100 is the balance point or ‘thermometer’ of consumers’ confidence and/or distrust in the future of their homes, country, savings and jobs.

As for the possibility of saving money in the next 12 months, the index recorded 81 points this January, with an increase of 11 compared to November last year, according to the results of the research, made in cooperation with Chamber of Commerce, Industry and Agriculture of Panama (CCIAP).

As for the economic future of the home, consumer expectations reached 92 points, 18 more than the previous measurement, “reflecting a more favorable perception, approaching confidence levels,” or 100 points or more.

The indicator on the prospects of the general economic situation in the country for the next 12 months is 73 points, with an increase of 22 points compared to November last year, but still far from the confidence level.

“The consumer confidence index remains below the confidence level,” the president said Marketing Group, Domingo Barrios.

Panama’s economy grew approx 7% of gross domestic product (GDP) in 2023 according to the Government’s forecasts, while multilateral calculations on economic expansion in 2024. 2% from CAF to 4.6% from the World Bank.

There are still dark clouds in Panama’s dollarized economy in 2024 due to an expected drop in tax revenues due to mine closures Panamanian copperthe largest surface mine in Central America, and due to the reduction of transit through the interoceanic canal due to drought, which would mean an increase in the deficit.