Results of the July 2021 Primary Consumer Sentiment Index (PCSI) in Saudi Arabia, released by Ipsos, reveal a stagnant performance compared to the previous month, leaving it at 64.3.
Saudi Arabia came in second when it comes to the current state of its economy preceded by China, with 44% saying that the economy is strong. The Kingdom also comes in second place globally with consumers (82%) believing the country is heading in the right direction.
While the Coronavirus continues to top the list of concerns in the Kingdom, taxes come in second place overtaking unemployment with a 5% increase in comparison to the previous month.
On a personal level, consumers in the Kingdom came in first place globally when it comes to their personal financial situation, whereby 29% believe that their financial situation is strong. It is also notable that the ability to make a major purchase has remained the same since last wave, whereby 65% feel more comfortable making a major purchase.
Looking ahead to the coming 6 months, the majority still have a positive outlook, whereby, 66% are now more or less comfortable with investing in the future, including the ability to save money for retirement and children's education. Also, 72% expect 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 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.
[WEBINAR 27/5] Turning a Myriad of Data into Actionable Insights
At Ipsos, one of our core beliefs is that an abundance of data and information does not lead to an abundance of insight. And today, so much data is being generated every day that it has led social experts to argue that we live in an age of infobesity. On this webinar our dedicated curators at Ipsos show you how we navigate and utilize these existing and disparate data points to do what we love most: giving value to you, our clients.