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Pak consumer confidence reaches all time high: survey

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Pakistan's consumer confidence has reached an all-time high increasing by nine points in quarter three of 2017, from an index of 102 in the previous quarter to 111, according to the findings of The Nielsen Global Survey of Consumer Confidence and Spending Intentions.

The survey data highlights a positive perception of job outlooks, increasing from 47% in the second quarter to 57% in the third quarter, said a statement issued on Monday.   

The number of respondents who are more optimistic about the state of their personal finances has gone up by two percentage points from the second quarter to 66%, consequently immediate-spending intention has reached 49%, compared to 46% in Q2 2017.

“The nine-point upsurge in Pakistan's consumer confidence score depicts an improving outlook for the country,” noted Quratulain Ibrahim, managing director, Nielsen Pakistan.

“Since Nielsen launched the survey, this has been the highest number reached to date. We can attribute the score to many different reasons, such as the growth of our agricultural sector, controlled inflation, strengthened power supply and most importantly the uplift in our job market. There has been an increase in large-scale manufacturing — notably the automotive industry. Pakistan is flourishing and is rated as one of the top growth markets in the Middle East & Africa region.”

Although there has been a one percentage point dip in job security being the biggest concern over the next six months, it still remains the top concern amongst 21% of Pakistani consumers.

Consumers are spending more on vacations and technology in Q3, suggesting they have more disposable cash. Established in 2005, the Nielsen Consumer Confidence Index is fielded quarterly in 63 countries to measure the perceptions of local job prospects, personal finances, immediate spending intentions and related economic issues of real consumers around the world. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively.

Posted on: 2018-01-16T04:09:00+05:00