Higher Levels of Public Confidence

Finance and Planning Minister, Dr. the Hon. Peter Phillips, says higher levels of public confidence have been expressed in the most recent survey on consumer and business confidence.

“Consumer confidence surged in the fourth quarter of 2015, recording a 20 per cent increase from the prior quarter, and reaching its second highest since the closing quarter of 2008,” he said.

Addressing the House of Representatives on January 26, the Minister said optimism improved in all regions of the country and all components of the overall confidence index improved, with the largest gains recorded in expected employment growth. The current confidence survey recorded the most favourable job outlook since 2008.

As it relates to business confidence, Dr. Phillips informed that firms have become more confident that their revenues and profits will remain strong, allowing them to expand their investments in their productive capacity in the year ahead.

“Overall, the average quarter readings during 2015 indicated that firms held the most favourable expectations of their finances in the history of the surveys, and the willingness of firms to invest in new plant and equipment posted its highest average in the history of the surveys,” he pointed out.