If you are an economist at the Africa development bank in Abidjan, an equity trader at UBA Capital markets in Lagos or an investment manager at Cytonn Investments in Nairobi, you are probably using a Bloomberg terminal. Bloomberg users pay at least $20,000 per year to access the terminal and associated data.
The Bloomberg terminal is one of the industry's most widely used sources for real-time financial information from all over the world. The ability to access real-time market information from almost anywhere in the world is incredibly convenient and an important advantage of a Bloomberg subscription.
KASI, a premier provider of high frequency data in Africa fits well within the Bloomberg ecosystem. KASI Consumer Confidence Index (KASI CCI), Africa's first and only monthly consumer confidence index is published on the Bloomberg terminal under KASIGLB GO
Here are couple of steps to find KASI CCI on Bloomberg
Bloomberg users can search and view the KASI CCI data by country and globally.
KASI CCI is available for 7 countries in Africa representing at least 70% of the continent gross domestic product (GDP). The command for each country is as follows:
South Africa - KASIZAF GO
Nigeria - KASINGA GO
Kenya - KASIKEN GO
Ghana - KASIGHA GO
Cameroon - KASICMR GO
Ivory Coast - KASICIV GO
Tanzania - KASITZA GO
Once you log to the terminal, the users can view the index using various views. See below
Exhibit 1: KASICMR GO - Description
Exhibit 2: KASICIV GO - Historical data by month including high, low, average
Exhibit 3: Consumer Confidence - Under Surveys/Cyclical indicators and consumer confidence, you can search and view each country index and month over moment data.
Why consumer confidence is important and how to use it?
Most investors will say there is still a lack of data on Africa that is accurate, reliable, independent and current. The African consumer, who is the main driver of future growth in Africa, is not very well understood. In many parts of the world, public and private surveys track consumer confidence and sentiment to guide business decisions for consumer-focused companies and also to convey a sense of the economic climate.
A few global research companies also produce consumer confidence measures for a few key African economies. However, these tend to come out with a quarterly lag and the published metrics cover wide - usually national - populations. However, consumer behavior differs within countries. Furthermore, economic conditions also vary widely within countries, with the average income in cities much higher than in rural areas, for example.
Research has found that responses to questions about the general economy tend to be more volatile and less predictive than those to more micro/personal questions. Responses to macroeconomic questions also tend to be less correlated to actual personal consumption.
Consumer confidence is an economic indicator that measures how confident consumers are about the overall state of the economy. It also measures how confident people feel about their income's stability. In turn, their confidence impacts their economic decisions and spending patterns. Consumer confidence usually increases when the economy expands and decreases when the economy contracts. The measure is considered a lagging indicator of economic performance.
Yannick Lefang, Founder, KASI Insight
© 2018, KASI Insight Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
The KASI Consumer Confidence Score (KASI CCI) is a composite index compiled from a seven-questions survey that runs monthly via our consumer polls in the countries covered. The data output is based on fresh, randomly selected representative sample of city dwellers aged 18-64.
Released the first week of every month, the KASI Consumer Confidence Index (KASI CCI) provides a focused view on consumer perceptions in seven African urban centers (Ghana, Nigeria, Kenya, South Africa, Cameroon, Ivory Coast, Tanzania) where most spending in the continent is concentrated. The survey provides a simple measure of consumers’ optimism about their economic prospects in the near term and attitude towards making major purchasing decisions.
Learn how to access and receive CCI data