And in other news, the SIB is reporting that consumer confidence fell by 8.9% in February 2025 when compared to January 2025. The CCI is an indicator that measures consumers' sentiments towards general economic conditions, their household's economic situation, and making major household purchases. The scale ranges from 0 which is completely pessimistic to 100 which is completely optimistic. According to the acting manager of the Economic Statistics Department, last month, that number stood at 46.
Jaqueline Sabal, Ag. Manager, Economic Statistics Department
"For the month of February 2025, the consumer confidence index stood at 46. This represents a decrease of 8.9% from January 2025 when the index stood at 50.5. if we look at the CCI over an extended period, we can observe that consumer confidence improved steadily for 4 consecutive months from October 2024 to January of 2025, while in February, confidence reverted back to pessimistic levels below the threshold of 50. Looking at the CCI for January vs February closely, decreases were observed in all subcomponents of the index. The present index fell by 9.4% from 50.4 in January to 45.7 in February of 2025. Consumer expectations fell by 7% from 59.6 in January to 55.4 and the largest contributor to the decrease in February was the durable goods component, which fell from 41.6 to 37, suggesting that consumers grew more pessimistic when it came to making those major purchases. We also observed a decline in the CCI across all districts. The largest decrease was seen in Corozal by 20.3%. Within this district, all 3 subcomponents of the CCI decline, most notably again consumers felt more pessimistic with respect to making those major purchases of durable goods. But for all the districts we did observe a decrease."
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