UOG: Guam Consumers Are Cautiously Optimistic

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Guam – The University of Guam has released the following consumer confidence report which found that Guam consumers are “cautious”, but “generally optimistic” about the future.

READ the UOG Consumer Confidence Report

READ the release from UOG on the Consumer Confidence report in FULL below:

CONSUMER CONFIDENCE SURVEY ON GUAM in NOVEMBER/DECEMBER 2011

Our November/December 2011 survey results show that

* most survey respondents assessed their economic situation in the past 12 months as neutral (“same as last year’s”).  Also, a higher percentage of respondents viewed the local business environment positively (i.e.,better this year than last year’s) compared to regional or global business environments.

* respondents expressed generally optimistic economic prospects in the next 12 months, responding either in the positive (“better than this year’s”) or neutral (“same as this year’s”) when ask to forecast income, employment and business environment situations in the next 12 months.  Also, respondents were more upbeat in their economic prospects for Guam in the next 12 months than they are for the region or the world.

* Despite the generally positive economic prospects in the next 12 months, consumers appeared to be cautious with their spending plans, especially on the larger-ticket items such as vehicles and real estate.

* Going on a vacation in the next 12 months appeared not to be a high priority for many consumers who participated in this survey.

* Responses received after the tax refund checks were distributed appeared to be more positive/less negative than those received before the tax refund checks were distributed.  These numbers suggest that the distribution of the tax refund checks and the increased spending which followed improved consumers’ assessment of their past situation and their prospects in the next 12 months.

PCEI plans to repeat this survey around November 2012.