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Friday, January 29th, 2016  |  USD: Buy 531.29 / Sell 543.92
20 years

Costa Rica consumer confidence takes biggest quarterly nosedive in 14 years

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August 28th, 2015 (ICR News) Consumer confidence in Costa Rica has taken the biggest quarterly nosedive seen in 14 years, falling 8.3 points since May of this year alone, and 18.2 points since May of 2014, according to the most recent Consumer Confidence Index (ICC), developed by the University of Costa Rica (UCR), released on Thursday.

 

Consumer confidence now stands at 31.6 points on a scale of zero to 100, worse than it was during the 2008-2009 global economic crisis.

 

“This result demonstrates that consumers are currently experiencing significant levels of pessimism toward the economy,” the report states.

 

The ICC had been holding relatively steady – though pessimistic – at about 40 points for nearly a year but fell sharply this month.

 

When asked about their perception of the current administration’s economic policies, only 5 percent of respondents believed the Solis administration was doing a good job of handling the economy, while 75% said that the administration was doing a “poor job,” marking the lowest approval rating of the Solis administration’s handling of the economy since coming to office.

 

The report shows that Costa Ricans increasingly believe that unemployment, poverty, and interest rates will all increase in the coming months while their purchasing power will decrease.

 

The ICC was conducted between August 3rd and 21st .

 

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  • Ben

    I need UCR to tell me Costa Rica is a mess get real. Costa Rica is in real trouble and soon Costa Rica will be like El salvador or Honduras. Good luck to all that buy houses in Costa Rica thing are going to get very interesting for you.

  • Ben

    TIM

    I hear that burger king is closing all location in Costa Rica and Mcdonald is closing 40% of location?

    • http://insidecostarica.com/ Timothy Williams

      No info about McDonald’s. There are rumors about Burger King leaving CR (floating around some of the business chambers) but they are only rumors right now based upon the fact that they have closed a number of locations in the country this year. BK hasn’t made any statement about the matter at all. And of course, ICR doesn’t run with rumors.

      • prdatki

        I use to eat at Burger King 2/ 3 times a month the quality of their food has dropped, I do not go there now.

  • Yeims

    Is the nervousness really about the economy, or about the government leaders who manage the economy and decide what the taxes they collect will be spent for, e.g., more raises and unneeded projects like the one in Guanacaste?

  • richard schlinder

    How bad do Ticos hate their government??Here is an example of the attitude toward government.
    Many years ago the Canadian government was willing to sponsor an address program so people could find places and get around better.After much discussion the people of C.R. turned it down.The reason you ask? Because they said they did not want the government to know where they live. This can be argued back and forth but it just shows their way a thinking about their government.This attitude has been here for several hundred years.

  • prdatki

    The first thing the Government needs to do is remove all benefits and reduce the pay of Congress and President. Audit and remove 30% from the top of the Public sector.Legalize and tax marijuana. Prisoners should work , raise their own food, cotton etc.now they just learn about crime from the older prisoners. Tax the church and quit giving them Money.

  • mhogan

    The world economy is on the brink of disaster due in part to implementation of a New World Order and a Global Economy. Thanks Progressives for wiping out free enterprise and liberalism (in the bona fide definition) and embracing Keynesian economics. And to Costa Rica: how much is Agenda 21 negatively affecting your economy and the middle class of your country? Don’t expect to ever see those stats published. You deserve to go down the tubes along with Greece.

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