Pakistan consumer confidence reaches all time high: Global Survey
KARACHI: (APP) The Pakistan consumer confidence has reached all time high in the fourth quarter.
The consumer confidence index in Pakistan went up by five points from the previous quarter reaching 106 in quarter four (Q4,) according to the Nielsen Global Survey of Consumer Confidence and Spending Intentions.
Despite the fact that the consumer confidence index took a three-point dip during the third quarter, the year ended with the index reaching its highest level since 2008, it added.
The primary concern during 2016 was job security and parents' welfare and happiness. The year ended with 21% of respondents still addressing their worry with job security and 14% with parents' welfare and happiness.
Although job security is a big concern, Pakistani's outlook towards job prospects has positively increased with 51% of Pakistanis stating that job opportunities will be good over the next twelve months. `Resultantly, we can see a rise in immediate spending intentions'.
The findings of the consumer confidence reflect a favourable atmosphere in Pakistan. The set of factors that influences the confidence levels of Pakistani consumers goes beyond economics and business, and is reflective of Pakistan overall, such as improved security conditions, increased energy availability, low inflation rates, higher investment rates, increased tourism amongst many other factors.
It is important to note that the China-Pakistan Economic Corridor (CPEC) has also led to a higher activity in large-scale manufacturing and construction, opening more investment opportunities', said Quratulain Ibrahim, Managing Director, Nielsen Pakistan.
We hope to see this optimism among the Pakistani consumers during the coming months as well'.