Results of the January 2024 Primary Consumer Sentiment Index (PCSI) in Saudi Arabia, released by Ipsos, reveal a decrease compared to the previous month, leaving it at 70.0.
The drop in overall PCSI is a result of a drop in the personal financial conditions and investment climate sub-indices which are mainly attributed to individuals with lower household income and those who are not business owners.
Despite this, Saudi Arabia came in first place, when it comes to the current state of its economy, with 64% saying that the economy is strong. Looking ahead to the coming 6 months, the majority have a positive outlook as well, with 81% expecting the economy in their local area to be stronger than it is now.
The Primary Consumer Sentiment Index is a global index conducted monthly by Ipsos across 25 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.