Saudi Arabia’s Primary Consumer Sentiment Index - September 2023
Results of the September 2023 Primary Consumer Sentiment Index (PCSI) in Saudi Arabia, released by Ipsos, reveal a slight increase compared to the previous month, leaving it at 69.5 versus 69.1.
Saudi Arabia came in first place, when it comes to the current state of its economy, with 63% saying that the economy is strong. The Kingdom also comes in first place globally with the vast majority of consumers (93%) believing the country is heading in the right direction.
When it comes to concerns, Inflation (39%) remains at the top of the list passing unemployment (34%) and worries about taxes (31%).
On a personal level, consumers in the Kingdom came in second globally when it comes to their personal financial situation. Currently, 38% believe that their financial situation is strong and 74% feel more comfortable making a major purchase. Looking ahead to the coming 6 months, the majority still have a positive outlook, with 75% more comfortable with investing in the future, including the ability to save money for retirement and their children's education. Moreover, 82% 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 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.
