Below are the major highlights of the survey:
Overall Consumer Confidence Index of Pakistanis in Q4 this year gone up by 3 points as compared to same period last year.
1. For the first time since current government taken charge, an upward trend can be seen in Pakistanis’ optimism about country’s direction. Males, middle-aged and rural dwellers are more optimistic than others
2. However, Pakistanis’ perception of country’s direction being wrong has not always been the case, in the election year 2018, 74% thought of country heading in the RIGHT direction
3. Inflation, unemployment, and rising poverty still haunt majority of the public
4. Sharp increase in perception of ‘inflation’ as the most worrying issue, concern regarding the floods significantly dropped in the last one quarter
5. Inflation and unemployment have always been biggest concerns for Pakistanis in the last decade, however the magnitude of concern was much lower before 2019
6. The trend of Pakistanis considering country’s current state of economy as ‘weak’ seems got arrested. Still, only 5% call it strong.
7. Only 1 in 6 foresee the economy getting stronger –Males, middle-aged and rural dwellers are more optimistic than others.
8. Again, for first time since government change, the trend of Pakistanis stating their own financial situation as ‘weak’ has gone down. Still, only 5% call it strong.
9. Nearly 1 in 4 expect their financial situation to be getting better in next 6 months, while more than half (55%) think their financial situation to be even weaker in coming 6 months.
10. Pakistanis’ confidence regarding job security remains extremely low with 9 in 10 less confident about it as compared to one year ago
11. 55% Pakistanis claimed to personally know someone who lost their job as a result of economic conditions, trend is consistent In the last one quarter
12. Pakistanis’ confidence about their ability to invest in future has slightly slipped further
13. Similarly, 95% are less confident to make a major purchase.
14. 95% Pakistanis are less comfortable in making household purchases
15. Compared with the last year, Pakistan Consumers’ Confidence Index gained 3 points, However, Pakistan remains the lowest among similar emerging markets