Pakistan witnesses positive shift in global consumer confidence

December 11, 2024 (MLN): In a significant development, Pakistan observed a positive change of 1.2 points in the Global Consumer Confidence Index, according to the latest Q4 2024 Ipsos survey.

These signals reflect growing public confidence and steady progress in economic resilience, Khuram Schezad, Advisor to the Finance Minister said while expressing optimism.

They also provide the government with more impetus to further build on these achievements to ensure sustained economic progress and prosperity for all citizens, he added. 

Key positive highlights for Pakistan from the Q4 2024 Ipsos survey: 

Doubling Optimism: Belief in the country's right direction nearly doubled to 19%, the highest in 36 months.

Inflation Eases: Inflation concerns dropped by 16 points, the lowest in 3.5 years.

Economic Strength Perception: Those calling the economy "strong" quadrupled since September 2023, while "weak" views declined by 9 points.

Spending Comfort: Comfort with household purchases improved by 6 points this quarter.

Future Optimism: 21% expect their local economy to strengthen in the next six months.

Savings Confidence Rebounds: Confidence in saving for the future is rising again.

Stable Job Security: Confidence in job security remains at a 3-year high.

Global Ranking Boost: Pakistan's Global Consumer Confidence Index improved, surpassing Türkiye for the first time in two years, while India, China, and Brazil are down.

To note, this survey has gathered responses from all four provinces of Pakistan, as well as ICT, GB, and AJK. 

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