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    Consumer confidence remained low in October



    Confidence from consumers in six major urban centers in Africa remained low again in October.

    The KASI Consumer Confidence index, the KIC Score rose slightly 2 points to +7 from +5 in September. The current economic conditions metric remained negative at -20 while the economic expectations metric remained positive at +17.

    The October readings of the KIC score range from -2 (Abidjan) to +22 (Douala). This is a somewhat a tighter range than the September readings, where the KIC ranged from -13 (Abidjan) to + 20 (Lagos). In October, Abidjan and Accra remained negative while Joburg continues to be under pressure due to stagnant economy. Douala in Cameroon remained the bright spot.

    City level highlights from the October release: Douala (Cameroon) - Consumer confidence remained positive.

    1. Douala remained a city with overall positive consumer confidence

    2. In fact, the overall KIC score rose 2 points to +22 in this month compared to +20 in previous month

    3. Consumer perception on current economic conditions moved up +10 compared to +2 in previous month

    4. Consumer perception on future economic conditions dropped slightly 1 point to +26 vs +27 in September

    Nairobi (Kenya) - Consumer confidence stayed flat in October.

    1. Nairobi remained a city with overall positive consumer confidence

    2. The overall KIC Score stayed flat at +5 in September

    3. Consumer confidence on current economic conditions stayed negative at -19

    4. Consumer confidence on future economic conditions remained stable at +14 points

    Accra (Ghana) - Consumer confidence down again in October.

    1. Accra consumer confidence remained negative

    2. The overall KIC Score dropped 4 points to -6 in October

    3. Consumer confidence on current economic conditions dropped 25 points to reach -31

    4. Consumer confidence on future economic conditions edged up 16 points to reach -1

    Lagos (Nigeria) - Consumer confidence is down again in October.

    1. Consumer confidence in Lagos dropped again in September

    2. The overall KIC Score hit +8 down 2 points from previous month

    3. Consumer confidence on current economic conditions up a bit 4 points to -34

    4. Consumer confidence on future economic conditions dropped 4 points to +24

    5. The overall decline in the score is across the board and reflected in each metrics

    Abidjan (Ivory Coast) - Consumer confidence remained negative in October.

    1. Consumer confidence in Abidjan rose in October

    2. The overall KIC Score hit -2 up 11 points from previous month

    3. Consumer confidence on current economic conditions rose 7 points to -21

    4. Consumer confidence on future economic conditions rose 12 points to +6

    Johannesburg (South Africa) - Consumer confidence remained negative in October.

    1. Consumer confidence in Joburg dropped slightly in October

    2. The overall KIC Score hit +1 down 11 points from previous month

    3. Consumer confidence on current economic conditions rose 7 points to -31

    4. Consumer confidence on future economic conditions dropped 20 points at 13

    Dowload the full report here.

    KIC Score (5 month trend)


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    About the KIC Score

    Released every month, the KASI Insight Consumer Perceptions Index (KIC Score) provides a focused view on consumer perceptions in key African cities where most spending in the continent is concentrated. The survey provides a simple measure of consumers’ perceptions about their economic prospects in the near term and attitude towards making major purchasing decisions. Subscribe now

    About KASI Insight

    KASI Insight is Africa’s most innovative research and advisory firm! Since 2013, we have built the capacity to disrupt the African market research industry. We deliver a typical project involving several thousand respondents in as many as 10 African countries in 15 days. The comprehensive reports we deliver for our clients present facts-backed analyses from highly experienced professionals.

    #consumers #index #afric #economy

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