Consumer confidence remained low in October
Updated: Sep 11
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.
Douala remained a city with overall positive consumer confidence
In fact, the overall KIC score rose 2 points to +22 in this month compared to +20 in previous month
Consumer perception on current economic conditions moved up +10 compared to +2 in previous month
Consumer perception on future economic conditions dropped slightly 1 point to +26 vs +27 in September
Nairobi (Kenya) - Consumer confidence stayed flat in October.
Nairobi remained a city with overall positive consumer confidence
The overall KIC Score stayed flat at +5 in September
Consumer confidence on current economic conditions stayed negative at -19
Consumer confidence on future economic conditions remained stable at +14 points
Accra (Ghana) - Consumer confidence down again in October.
Accra consumer confidence remained negative
The overall KIC Score dropped 4 points to -6 in October
Consumer confidence on current economic conditions dropped 25 points to reach -31
Consumer confidence on future economic conditions edged up 16 points to reach -1
Lagos (Nigeria) - Consumer confidence is down again in October.
Consumer confidence in Lagos dropped again in September
The overall KIC Score hit +8 down 2 points from previous month
Consumer confidence on current economic conditions up a bit 4 points to -34
Consumer confidence on future economic conditions dropped 4 points to +24
The overall decline in the score is across the board and reflected in each metrics
Abidjan (Ivory Coast) - Consumer confidence remained negative in October.
Consumer confidence in Abidjan rose in October
The overall KIC Score hit -2 up 11 points from previous month
Consumer confidence on current economic conditions rose 7 points to -21
Consumer confidence on future economic conditions rose 12 points to +6
Johannesburg (South Africa) - Consumer confidence remained negative in October.
Consumer confidence in Joburg dropped slightly in October
The overall KIC Score hit +1 down 11 points from previous month
Consumer confidence on current economic conditions rose 7 points to -31
Consumer confidence on future economic conditions dropped 20 points at 13
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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
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