Costa Ricans less pessimistic about the economy, according to a UCR survey

QCOSTARICA – A less negative economic situation and higher purchasing power compared to 2021, but dissatisfied with the state of their family finances, showed Costa Ricans who participated in the latest survey by the School of Statistics and the Statistical Services Unit of the University of Costa Rica (UCR).

Costa Ricans less pessimistic about the country’s recovery

The study, which measures the Índice de Confianza del Consumidor (ICC) – Consumer Confidence Index, was carried out between February 1 and 16, with interviews with 723 people over the age of 18, from all over the country. , via calls to their cell. call.

The study has a margin of error of 1.8 and 3.7 (percentage) points, with a confidence level of 95%.

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Overall, the ICC reported that consumer confidence in February was still weak (42.1 points), but it showed an improvement of 3.2 points compared to the last survey, carried out in November. last year.

This rise in consumer confidence shows growth with ups and downs from August 2020 to February this year, for a total increase of 13.8 points over this period.

The reasons for this decrease in pessimism towards the Costa Rican economy can be multiple, one of them is the economic reactivation that the country has experienced in recent months, thanks to the decrease in deaths and hospitalizations from Covid-19.

The survey took place before the uncertainty caused by Russia’s invasion of Ukraine on Thursday, February 24, and does not yet consider the possible impacts of the armed conflict.

Johnny Madrigal, a researcher at the UCR, indicated that at the end of each government, consumer confidence tends to grow due to a question of “hope” for a new economic proposal.

According to research, seven out of 10 Costa Ricans think now is not a good time to buy a house or a car. Additionally, 52% of Costa Ricans think interest rates will rise next year.

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In addition, information from the Banco Central de Costa Rica (Central Bank) and the Institute for Research in Economic Sciences (IICE) of the UCR reveal, in general, that the macroeconomic indicators tend to improve after almost two years of harsh effects that the pandemic has had on the economy, among which stands out a visible reduction in unemployment.

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