ISLAMABAD: Pakistanis said the country is heading in the right direction has increased from 12% to 18%, marking the highest optimism in last two years, according to the Consumer Confidence Index Survey Quarter 2, 2024.
The survey, conducted through interviews with more than 1,000 participants from all provinces, Islamabad, Gilgit-Baltistan, and Azad Jammu and Kashmir, shed light on various aspects of consumer confidence and economic sentiment. The findings from the Survey for Pakistan released for the 2nd quarter of the year, offered a glimpse into the sentiments and perceptions of Pakistan’s citizens about the country’s economic outlook.
According to the Survey Quarter, three out ten Pakistanis consider inflation as most worrying issue, which is lowest read in last 3 years. Pakistanis who describe the nation’s current state of the economy as ‘strong’ are quadrupled since Q1 this year, from 4% to 16%. This positive sentiment is ever highest in last 5 years, except for one-time unusual spike in Sep. ’21.
Proportion of Pakistanis being comfortable making daily household purchases has increased 2.5 times, from 4% to 10% since Q1 this year. There’s almost 4 times increase in Pakistanis who are comfortable in making even major purchases.
According to the Consumer Confidence Index Survey, Pakistanis expressing their confidence in their ability to save for the future has increased from 11% to 15%. Since Sep’23, there is a constant growth in percentage of Pakistanis who are confident in their ability to save for future, showing signs of steady but stable growth.
Confidence in job security has slightly increased (15%) since the last quarter (12%), according to the Consumer Confidence Index Survey. Since last quarter, Pakistan shows positive change in 3 out 4 sub-indices, resulting in +0.8 pts change overall consumer confidence index. Current overall index of 32.3 is the best outlook in last 3 years.
