Consumer and Business confidence following the February 25 General Elections now stand at a 15 year high.

According to the release of the Business and Consumer Indices, Jamaican Business owners were optimistic about the policies being advocated by the new government.

Noted Pollster Don Anderson says local businesses also expected and improved economy with record profit expectations and record investment plans.

Optimism surged 17.6% over the prior quarter. The Business Confidence Index was 144.6 in the most recent survey compared to 123.0 for the last quarter in 2015 and 131.9 for the first quarter of that same year.

The largest gain was in how firms judged the prospects for the Jamaican economy, surging 57% from last quarter. This represents a 15 year peak.

Meanwhile, consumer optimism has also improved with expectations of renewed growth, robust job gains and soaring income expectations.

The current level of consumer confidence is the third highest in the past 15 years.

However, Anderson says based on previous data, this surge may just be an election high.

This is shown in the lack of movement in purchasing plans by consumers.

Despite the surging optimism about future economic decisions and personal finances, purchase plans remain largely unchanged.

According to the release, vehicle buying intentions were unchanged from the last quarter at 16% and home buying intentions fell slightly to 10% from 11%. The only gain was in vacation plans which moved by 1% over last quarter to close off at 38%.

Anderson says this serves as proof that consumers do not intend to allow election results to dominate their spending decisions as has been repeatedly documented over the past fifteen years.

He says to ensure the faith of business owners and consumers in the government remains steady, the newly installed government needs to stick to the promises it made during its campaign period.