Results of the August 2019 Primary Consumer Sentiment Index (PCSI) in Saudi Arabia, released by Ipsos, reveal that the majority of consumers in the Kingdom (91%), still believe that the country is heading in the right direction. However, consumers’ views on different current financial states have become even more positive and neutral in comparison to findings published in June 2019.
Today, consumers are more confident with their personal financial situation with 38% viewing it to be strong in comparison to 28% in June 2019. On the other hand, only 9% of the consumers still view the current economic situation of KSA as weak, since June 2019, which is the lowest recorded level in recent years.
With the increase in consumers’ confidence on their ability to make a major investment or purchase, compared to June, confidence levels in August have placed KSA in the top 2 highest around the world, following China, with an index of 71.9 compared to the global average which is 44.2.
However, the top 2 concerns for consumers in the Kingdom remain the same since April, with unemployment (33%) and taxes (22%) topping the list, yet health care has joined the top 5 concerns list in August with 19% of consumers in KSA worrying about this issue.
The Primary Consumer Sentiment Index is a global index conducted monthly by Ipsos across 24 countries in collaboration with Thomson Reuters, and measures consumer attitudes towards the current and future state of the local economy, consumers’ personal financial situation, as well as confidence to make large investments and ability to save. The survey has been running monthly in Saudi Arabia since 2010.