November 04, 2024 (MLN): The consumer confidence indicator in Pakistan jumped by 14.7% to 35.52 points in Ocotber compared to last month, according to a survey report released by the State Bank of Pakistan (SBP).
Sentiments regarding the Current Economic Conditions (CEC) index also improved by 18.7% to 34.48 points while the Expected Economic Conditions (EEC) index increased by 11.1% to 36.56 points over the previous wave.
At the same time, inflation expectations deccelerated by 6.7% to 68.47 points. While concerns regarding unemployment in the next 6 months decreased 6.1% to 70.81 points.
Furthermore, the expectations for interest rate in next 6 months decreased by 13.7% to 58.28 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.
