The perception of present and future business conditions fell sharply in the latest survey conduction on behalf of Bank of Jamaica in July. Deterioration was registered in both surveys among respondents relative to the previous survey.
Notably, the index of present business conditions fell sharply to 130.3 from 166.9 in the previous survey. The index of future business conditions declined to 135.2 from 148.3 in the previous survey.
The result for July is the worse since September 2014 at 123.6 for current conditions and August 2014 for future business conditions at 119.4. Both confidence levels have broken the upward movement by breaking the trend line going back to October 2013, a negative sign, suggesting the likelihood of further declines ahead. The negative development seems to be showing up in the performance of the local stock market which has stagnated over the 108,000 points on the all Jamaica Index, in spite of a fall in interest rates initiated by the country’s central bank.
Notwithstanding, the declines in the recent indices of perceptions of present and future business conditions, they have displayed a general upward trend since the April 2013 survey, bank of Jamaica stated in the report. Of course that upward trend is now broken as indicated above.
The drop in the confidence levels is probably tied in with the depreciation of the Jamaican dollar in during June and July. At the start of June the exchange between the Jamaican dollar and the US was $116.13 reaching $116.98 at the end of the month and closed out July at $117.42.
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[…] Business confidence levels rebounded in August according to the latest survey of the perception of present and future business conditions relative to the previous survey a report from Bank of Jamaica shows. Persons in the business sector were responding to the questions “In general do you think business conditions are better or worse than they were a year ago in Jamaica” and in response to the future, “Do you think that in a year from now business conditions will get better or get worse than they are at present”? The index of present business conditions increased to 158.4 from 130.3 and the index of future business conditions rose to 150.7 from 135.2 in the previous survey. The survey is conducted by the Statistical Institute of Jamaica on behalf of Bank of Jamaica amongst Chief Executive Officers, Managing Directors and Financial Controllers. The most recent survey was conducted in August 2015 and had 319 respondents. […]
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