Poll: Little economic confidence

Of the 294 respondents to the most recent caycompass.com on-line poll, two times as many think Cayman’s economy will do worse this year compared to 2007 than those who think it will do better.

Sixty-six respondents (21.6 per cent) thought the economy would do a little worse in 2008 compared to last year, and 86 people (28.2 per cent) thought it would do a lot worse this year compared to 2007.

The price of goods seemed to weigh on some respondent’s mind.

‘Things only get higher in cost,’ said one respondent. ‘They never go back down once set.’

‘If retailers stop price gouging, we may survive,’ said someone else.

‘With this government’s spending and the possible recession in the US, 2008 is going to be a tough year,’ said one person who thought the economy would do a lot worse this year.

Another respondent thought US President George W. Bush doomed the Cayman economy.

‘Until Bush in gone, the economy will be down,’ the person commented.

By contrast, only 43 people (14.1 per cent) thought the economy would do a little better in 2008 than 2007, and only 32 people (10.5 per cent) thought Cayman’s economy would do much better this year.

‘The rollover policy hasn’t been as bad as expected and the population is growing,’ said one respondent. ‘It will all add up to a better 2008.’

Another 67 respondents (22 per cent) thought Cayman’s economy would be about the same this year as last year.

In addition, 11 people (3.6 per cent) said they did not know how the economy would fare in 2008.

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