Panama’s consumer confidence fell to 73 points in September 2026, driven by deepening employment pessimism Panama has not seen since the pandemic era. The decline of two points from June’s 75-point reading came as 41 percent of surveyed Panamanians said they had little chance of joining the workforce in the next six months.
The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) released the data Wednesday in partnership with The Marketing Group. Every component of the index remains below the neutral threshold of 100 points, placing the entire measurement firmly in distrust territory.
Perspectivas de Crecimiento Económico, países centroamericanos 2026. Solamente Panamá se acercaría al 5% de crecimiento, límite a partir del cual, sosteniblemente, se estaría ampliando el empleo y disminuyendo -estructuralmente las condiciones de pobreza.- https://t.co/RgCS0H2g0r
— Giovanni E. Reyes Ortiz (@GiovanniReyesO1) October 30, 2026
Employment Pessimism Panama Labor Market Outlook
The sharpest drop hit labor expectations, which plunged 15 points from 87 to 72. This marked the most severe decline across all measured components. The breakdown revealed that 19 percent of respondents considered it unlikely they would secure employment, while 22 percent believed they would not find work at all.
On the positive side, 28 percent said obtaining a position was very likely, and 24 percent considered it fairly probable. Seven percent offered no opinion. The CCIAP noted that the 41 percent negative outlook represents a significant shift in household sentiment about the country’s economic trajectory.
Analysts familiar with the methodology said the labor component often serves as a leading indicator for broader consumption patterns. When households doubt their income prospects, spending contracts and savings rates typically rise.
Household Finances Show Modest Gains
Despite the overall decline, perceptions of household economies improved by two points to reach 81. The probability of saving money over the next 12 months climbed four points to 74. Both figures remain below the 100-point neutral line, confirming that families maintain extreme caution regarding spending and investment decisions.
The national economic outlook stayed at 64 points, the lowest variable in the study, after a marginal one-point increase from June. This persistent weakness reflects ongoing uncertainty about Panama’s broader economic recovery path and its impact on daily financial decisions.
Consumer Confidence Index Methodology and Context
The ICCP calculation follows the University of Michigan model, subtracting negative responses from positive ones and adding 100 to the result. Any score below 100 indicates that negative perceptions outweigh positive ones among the surveyed population.
The September reading extends a pattern of precaution that has characterized Panamanian consumer sentiment through 2026. With all components trapped below neutral, economists monitoring the data suggest that any meaningful recovery in the index would require substantial improvement in labor market conditions first.
CCIAP officials emphasized that the employment expectations component deserves close monitoring in upcoming quarters, as sustained pessimism there could delay the consumption recovery needed to accelerate economic growth.