Consumer confidence declines ahead of elections in Nigeria

Updated: Jun 1, 2019

  • KASI CCI dropped slightly by 1 percent

  • Short term outlook dampened by challenges with jobs and spending

  • Long term outlook remains positive despite month over month decline

In contrast to recent months, there were no drastic movements of individual index scores for all seven countries leading to a mild 1 percent drop to the global consumer confidence index metric. Kenya is the bright spot with an increase from +10 to +15, while the other 6 countries’ confidence figures declined within a range of a maximum of 5.

Short-term outlook dampened by weak job prospects and spending post holidays

Consumer’s evaluation of the current economic conditions moved up slightly +1 but remained negative at -11. This was strongly driven by continued challenges in the job market despite a 6 points increased of the job sub-index (-22 from -28), combined with budget constraints post holidays as reflected by a lower number of respondents looking to make large purchase.


“ Time and time again, we’ve seen the value of combining top down and bottom up data to get a holistic view of an economy. The actions taken by the Ghanaian Reserve Bank in a bid to stimulate economic activity were in line with our anticipation based on our observation of the consumer confidence. We welcome the move. ” Esther Bhosha, Junior Economist at KASI Insight

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Forthcoming consumer data releases:

  • March 15th: KASI CCI (February data)

Esther Bosha, Junior economist, KASI Insight

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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.

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