Expectations about the possibility of savings, with levels of mistrust

Panama Consumer Confidence Index it recorded 86 points in January 2023, 24 more than the previous measurement (November 2022), according to a survey published on Monday.

“The level of distrust has decreased due to the improvement of all the indicators that make up the index of consumer confidence for the beginning of 2023, most of all the confidence in the future economic situation of the home,” explained Domingo Barrios, president of The Marketing Group, presenting a survey that measures the Panamanian index of consumer confidence (ICCP) .

In the sample, implemented through a strategic alliance between Chamber of Commerce, Industry and Agriculture of Panama (CCIAP) and The Marketing Group, 100 is the balance point or “thermometer” of consumer confidence and/or distrust in the future of their homes, country, savings and jobs.

The results of the survey from last January show that consumers’ expectations regarding the economic situation in their homes “represented a positive perception, after 3 consecutive measurements of mistrust”.

Therefore, this indicator received 100 pointsthat is, “an increase of 21 points compared to November 2022”.

The new measurement indicates, on the other hand, that expectations about the likelihood of saving money They are at distrust levels with a score of 65 points, albeit with a strong increase compared to November 2022’s 24 units.

Similarly, the perception of unemployment recorded an index of 83 points, 12 above the previous measurement, still at levels of distrust.

On the other hand, the indicator on the prospects for the general economic situation in the country for the next 12 months marked 94 points.

This represents an increase of 19 points, showing “more favorable perception, approaching trust levels”.

Panama’s economy collapsed 17.9% in 2020 due to the covid pandemic, but recovered 15.3% in 2021.