Business Content Jamaica- Bringing Jamaican Business News To Your Desktop

Wed, 08 February 2012

Business confidence at record low Print E-mail
jamaica_chamber_of_commerce_logo.jpgThe impact of the global recession on Jamaica has been glaringly revealed by first quarter figures on   business and consumer indices which plummeted to record low levels.

The surveys which are commissioned by the Jamaica Chamber of Commerce's Conference board show that confidence among business firms plunged to the lowest level ever recorded since they began in 2001. Business confidence fell from an index of 90 in the first quarter of 2008 to 76 in the first quarter of 2009.

Businesses were concerned about the deepening recession among Jamaica's major trading partners, the falling value of the Jamaican dollar, tight credit conditions, and falling domestic sales due to rising unemployment in the island.

On the other hand consumer confidence fell to a six-year low with consumers generally citing the negative impact of the global economy on the domestic economy, especially the deepening U.S. recession which has heightened concerns about remittances and employment trends in the Jamaican economy.

The survey suggests a need for Jamaican government policies to become more proactive to avoid even greater cumulative cutbacks in consumer spending.

Share

Comments (0)Add Comment
feedSubscribe to this comment's feed
min/maxShow/hide comments

Write comment
smaller | bigger

security code
Write the displayed characters


busy
 
[ Back ]


Follow us on Twitter

Subcribe to our RSS feeds

advertisements


Home
Jamaica Business Consultant Wants Shift In Thinking.
Dexter scores big win in 2011 Young Investors competition!

article thumbnail

Our Young Investors Stock Market Competition has ended for 2011 and the highlight of the year was of course, Dexter Smith's dominant display. Smith won each of the four quarters impressively with [ ... ]


+ Read More
Investment Opportunities for Jamaicans

article thumbnail

Pan Caribbean believes that even with the changed interest rate regime; the impact of the Jamaica debt exchange; and the buffeting Jamaica has taken from global recessionary trends, there [ ... ]


+ Read More
Young Investors: Despite Break, Dexter Still Dominant

article thumbnail

A confident Dexter Smith has taken a break, maintaining a cash-only portfolio worth over JA $1.2 million and a virtually unassailable lead in the final quarter of the Young Investors' Stock Market Co [ ... ]


+ Read More
Home arrow News arrow The Economy arrow Business confidence at record low