Business

Business confidence plummets

By Shamille Scott Business Reporter

Tuesday, July 31, 2012 | 2:11 PM    

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KINGSTON, Jamaica — Business optimism has faded, job prospects have plummeted, investment plans are depressed and hopes for the economy have sunk.

So gloomy is the outlook in the latest Index of Business Confidence that it rivals the worst of the 2008-09 recession.

Economic optimism among businesses fell to the lowest level in three years at 91.8, down from 123.7 in the first quarter and 117.5 in the second quarter of last year.

Consumer confidence was also down, posting its largest quarterly decline ever.

After the December general election, “the honeymoon period was as short as it was intense”, said the Jamaica Conference Board, which conducts the quarterly survey.

See full report in tomorrow’s Business Observer

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