Thursday, 22 October 2020

Perception of the economy: 76% of Costa Rican say it is the worst time to buy a house

Results of the Consumer Survey N ° 66 released May 27

(QCOSTARICA) Consumer perception has plummeted to its lowest level in almost two decades due to the crisis generated by the new coronavirus pandemic.

This is revealed by the most recent survey of the Consumer Confidence Index (Índice de Confianza del Consumidor – ICC), the results of which were disclosed Wednesday by the School of Statistics of the University of Costa Rica (UCR).

According to the study, the assessment of the country’s economic conditions fell, on a scale of one to 100, from 33 points last February, to 19.7 points now in May.

- paying the bills -

“We have never before come to such a bad perception in the current economic situation,” explained Johnny Madrigal, coordinator of the ICC survey.

The negative assessment also carried over to other variables in the survey such as the acquisition of durable goods.

In fact, the percentage of people who consider that these are bad times to buy a home rose from 64.3% three months ago to 76.2% today.

In addition, 88.4% considered that it was not the time to purchase a car either.

The researcher pointed out that when they asked about buying household items, such as household appliances, 82.9% consider that they are bad times, increased from 63.3% in February.

- paying the bills -

“When asked about the current economic situation, we have not had a pessimistic situation like the one we are experiencing today (…). We have 18 years of doing the survey every three months and it is the first time that we have had such bad figures in some areas,” said Madrigal.

In addition, 53% of the interviewees have a strong uncertainty about their employment situation in the next 12 months. 33% said they are very likely to lose their job, while 20% do not know if they will have a job.

The ICC is a quarterly survey that has been conducted since 2002 and measures consumer confidence. This indicator is made up of two sub-indicators that are the current situation of the economy and future economic expectations.

The general indicator for the month of May in 36.6 points, which is considered pessimistic. The survey was carried out between May 4 and 20, and has a 5% margin of error.

 

Rico
Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Presidency and Legislative Assembly summon sectors to dialogue to seek solution to crisis

QCOSTARICA - President Carlos Alvarado, and the President of the Legislative...

Every colon counts for the 1.2 million Ticos hit by the VAT

(QCOSTARICA) The entry into force of the 1% of the Value...

MOST READ

Aeroméxico once again bringing tourists to Costa Rica

QCOSTARICA - This Sunday morning, minutes after midnight, the Mexican airline Aeroméxico resumed operations at the Juan Santamaría International Airport (SJO) with a first...

Parks opening begins: Mora announced reopening on November 1

QCOSTARICA - Last month, the Central Government announced that the reopening of public areas such as parks would remain in the hands of each...

Legislators breaking new Assembly floor by cutting annuities for officials

QCOSTARICA - One of the first laws that the legislators will approve in the new Legislative Assembly building is the one that eliminates the...

New Incofer trains on their way to Costa Rica

QCOSTARICA - Four of the eight new trains acquired by the Instituto Costarricense de Ferrocarriles (Incofer) - Costa Rican Railway -  left the factory in...

Costa Rica eliminates covid-19 testing requirement for travelers

QCOSTARICA  - Starting Monday, October 26, tourists, residents and nationals arriving by air in Costa Rica no longer require a negative RT-PCR test. Neither will...

14 cases of COVID-19 confirmed in new Congress building

QCOSTARICA - Fourteen officials of the Legislative Assembly were diagnosed with COVID-19 on Tuesday. The cases resulted in a temporary suspension of functions, including legislative...

Let's Keep This Going!

To be updated with all the latest news and information about Costa Rica and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.