September 12, 2024 (MLN): The consumer confidence indicator in Pakistan dropped by 2.6% to 31.01 points in August compared to last month, according to a survey report released by the State Bank of Pakistan (SBP).
That was the lowest reading since September 2023.
Sentiments regarding the Current Economic Conditions (CEC) index deteriorated by 5.7% to 29.05 points while the Expected Economic Conditions (EEC) index increased by 0.2% to 32.96 points over the previous wave.
At the same time, inflation expectations accelerated by 1.7% to 73.70 points. While concerns regarding unemployment in the next 6 months increased 1.2% to 73.30 points.
The expectations for interest rate in next 6 months decreased by 3.6% to 65.60 points compared to last month.
The CCI report assesses consumers’ confidence about the economy as well as their personal financial situation.
The overall CCI is calculated from survey results and evaluated within a range of 0-100, indicating an optimistic outlook when the index is above 50 while showing a pessimistic attitude towards future economic situations when it is below 50.
The index reflects the ‘current situation’ — economic changes witnessed in the last six months — as well as ‘future expectations’ that take into account changes expected in the next six months across the country.
