Consumer Confidence Index jumps

PANAMA. The Consumer Confidence Index for August rose to 101. 8 , 11. 9 points higher than the previous month. The index is over the benchmark of 100, which indicates overall confidence by the consumer.

The National Survey of the Index of Panamanian Consumers’ Confidence (ICCP), is organized in Panama by the German survey house GFK The Marketing Group, in collaboration with the Chamber of Commerce, Industry and Agriculture. It measures consumers’ confidence, which aims to measure their perception on the current and future economic status of the country, as well as the living conditions of the population.

The Chamber of Commerce holds this index since 2001 at a metropolitan level, which serves as a reference to the national index that has been measured since February 2007.

The General Manager of GFK The Marketing Group, Domingo Barrios, commented that the higher index is “influenced primarily by the indicator of the economic situation of the country where consumers present an optimism related to the movement in the political arena?”

Consumer expectations regarding the economic situation of their homes have increased by 11.6 points, while their perspectives on the economic situation of the country in general increased by 16 points compared to last month’s results.

As for unemployment, perceptions were improved by 5 points; however, it is still 97.9, below the 100 points benchmark.

The President of the Chamber of Commerce, Industry and Agriculture, Jose Ramon Varela, said: “this result shows a positive effect on the economy of the country and we hope that the tendency is maintained.”