Pakistan Consumer Confidence Index gains 0.8 points to hit three-year high

Fewer inflation concerns, better job security boost consumer confidence nationwide

A man walks with sacks of supplies on his shoulder to deliver to a nearby shop at a market in Karachi, June 11, 2024. — Reuters
A man walks with sacks of supplies on his shoulder to deliver to a nearby shop at a market in Karachi, June 11, 2024. — Reuters

The Pakistan Consumer Confidence Index (CCI) recorded a gain of +0.8 points, reaching its highest level in three years, according to the 2024 Global Consumer Confidence Index (CCI) report for December.

This growth reflects a steady recovery in consumer sentiment amid improving economic indicators and public optimism.

The report highlights that the percentage of individuals who perceive the economy as “strong” surged from 4% at the start of the year to 16%. Additionally, concerns about inflation have dropped to their lowest in three years, reflecting growing economic stability.

Confidence in job security improved by 3%, indicating a positive outlook for employment prospects. Savings confidence also saw consistent growth, with 15% of respondents expressing optimism about their future financial capacity.

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Meanwhile, the ease of making major purchases, such as homes and vehicles, has increased fourfold compared to previous quarters.

The CCI report underscores improvement in three of the four sub-indices, pointing to resilience in Pakistan’s economy despite ongoing challenges. With rising confidence in savings, job security, and purchasing power, Pakistanis appear more optimistic about their financial and economic futures.

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