Consumer Confidence Dips in Second Quarter 2026

• Consumer confidence fell 2.3% in the second quarter of 2026, reversing part of the previous quarter's gains, while business confidence increased 2.3% after a 6.5% decline in the first quarter, according to the Market Research Services (MRS) Business and Consumer Confidence Survey.
• MRS Chairman Don Anderson said households are becoming more cautious due to weaker economic conditions, including the lingering effects of Hurricane Melissa, a reported 4% contraction in the economy compared with the same period in 2025, higher fuel prices linked to conflict in the Middle East, and ongoing inflationary pressures.
• Although business confidence improved slightly, it remains below pre-Hurricane Melissa levels. Anderson noted that businesses continue to view it as a reasonable time to invest and expand, reflecting a more stable long-term outlook despite current economic challenges.
• Anderson explained that the decline in consumer confidence is typical after a general election, as the optimism driven by campaign promises fades and consumers adopt a more realistic assessment of economic conditions. The survey also highlighted growing concerns over declining remittances and rising energy costs, both of which are affecting household finances.
• Overall, the data suggests consumers are becoming more cautious about spending as economic uncertainty persists, while businesses are showing greater confidence in future recovery. Consequently, consumer spending may remain subdued in the near term, even as businesses position themselves for longer-term growth.

(Sources: Jamaica Gleaner & NCBCM Research)