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Jamaicans report downturn in remittances

Published:Wednesday | May 31, 2017 | 2:22 PM
Shoppers walk by a money transfer sign in downtown Kingston. – File

Jamaicans are reportedly receiving less remittance and this has been identified as one of the factors for a dip in consumer confidence in the economy.

This is according to the latest Jamaica Chamber of Commerce's (JCC) survey of business and consumer confidence.

In presenting the findings of the survey yesterday, Managing Director of Market Research Services Don Anderson said Jamaicans reported that they received less remittance during the first quarter of this year.


Managing director of Market Research Services Ltd, Don Anderson

Anderson pointed out that the survey did not detect a change in the number of people who say they get remittance.

However, he said more elderly people reported receiving remittances compared with three years ago when more young persons topped the age category of people who reported receiving remittances.

The JCC survey, which is done by Anderson's Market Research Services, says confidence in the government's economic policies remained high among businesses in the first quarter of this year, although slightly lower than for the previous quarter.