Ipsos Consumer Confidence Index Survey - Quarter 4 2023

Here are key points of the survey:

• Only 1 in 10 Pakistanis believes that country is headed in the right direction. Males are 4 times more likely to be more optimistic than females.
• Albeit quite bleak even now, optimism is 6 times higher than Q3 when caretaker government took over. Ever growing pessimism has been reversed after couple of years.
• Economic problems continue to top the list of worrying issues for Pakistanis. However, a significant decrease can be seen in the perception of electricity prices as the most worrying issue since Q3 ‘23.
• Economic challenges have had dominated for Pakistanis since last many years.
• Though meager 5% Pakistanis consider its economy as ‘Strong’ but in Q4, 16% more Pakistanis have changed their ‘weak’ economy perceptions as compared to Q3. Females, urbanite and Mature age groups are now even more positive.
• Pakistanis calling country’s current state of economy as ‘weak’ has decreased significantly from 76% to 60% in this quarter, showing a welcome change of 16% in comparison to Q3.
• 1 in 3, and 1 in 4 Pakistanis expect their personal financial and economic situation in their areas getting better in next 6 months.
• Again, only 1 in 10 Pakistanis are more confident about future saving and investment, but that optimism got double within last one quarter. Respondents from middle income group are seen most optimistic on these accounts.
• After a continuous decline for year and a half in confidence of Pakistanis to invest in future, first time there is an increase of 4% in this quarter.
• Confidence in job security has jacked up twice as much Q3 levels, though acute majority (88%) remain less confident.
• 5 out of 10 Pakistanis claim to personally know someone who lost their job as a result of economic conditions. In comparison to Q3, 7% decrease in such claim shows increased job stability in Q4.
• 9 out of 10 Pakistanis are not comfortable in making household purchases, however 3% Pakistanis are more comfortable in household purchases in comparison to last quarter.
• Despite the improvements in this quarter, 98% Pakistanis are still not comfortable to make major purchase like home or car.
• Turkey has the highest net change in Global Consumer Confidence Index (GCCI) followed by Pakistan with Significant increase of 5.0 Points in the Index
• Pakistan score remains lowest among comparative emerging markets but shows some signs of recovery.

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