Across the world, the economic outlook is on the decline. At 41.3, the Global Consumer Confidence Index in May is down 3.1 points from last month, 7.4 points compared to its pre pandemic level of January,and two points lower than at any time since its creation in March 2010.
Spotlight on KSA Post Lockdown
Residents across KSA have an increasing sense that individuals around them are taking the Coronavirus threat less seriously, with a 10-point drop following the easing of the lockdown. Accordingly, they feel that the likelihood of someone they know getting infected has risen quite significantly.
On a national front, the majority believe that the economy should be refueled again, allowing businesses to reopen, even if the virus is still not fully contained. This is because their top concerns have become the future of their jobs and their ability to pay the bills.
As for the Value-added tax, the majority of the residents were concerned about the impact the increase may have on them. They claimed that they would be making significant adjustments to the way that they shop following the increased taxation.