Decline in consumer confidence persists in November



KEY FINDINGS

  • KASI CCI declined by 1 point in November

  • Spending and job security prospects remotely change

  • Continued anticipation of deteriorating personal finances drives down expectations

It appears that the year will end at a low note given the continued fall in consumer confidence index experienced in this final quarter. The month of November saw another 1 point drop in the consumer confidence index with Ghana and Kenya recording the highest drops of -17 and -9 respectively. Out of the seven countries, only Ivory Coast and Cameroon recorded an increase in their confidence index of +2 and +10 respectively. The notable improvement in the consumer confidence in Cameroon indicates recovery of stability after a tension-hyped election period.

Consumer confidence dropped again in November


Spending and Job security continue to dampen short-term outlook

Consumers’ appraisal of current economic conditions dropped from -14 to -17 in the month of October and expectations slightly declined by -1 point leading to a score of +17.

Personal finance deteriorates

The share of consumers that expect an increase in household income over the 6 months declined minutely by 1 percentage point to 33 percent while the number of consumers expecting to meet their regular expenses in the same time frame also declined by 3 percent to 22 percent.

Slow growth in the last quarter