For the first, in a long time, consumer and business confidence have fallen simultaneously.

Chief Executive Officer of Market Research Services, Don Anderson made the disclosure during the 2023 1st Quarter Business and Consumer Confidence Indices Webinar this morning (April 18).

He explained that consumer confidence fell by 2.7 per cent during the period.

This, Mr. Anderson said is a reversal of the gradual growth and increase seen in the last quarter of last year.

Mr. Anderson said business confidence fell by 5.5 per cent.