Survey Reveals Decline in Consumer Confidence in Q3

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The Consumer Confidence Index (CCI) report released by the NOIPolls for the third quarter (Q3) 2018 has revealed a 6.2 points decline in the CCI to 60-points in the period under review, down from the 66.95 points recorded in Q2, 2018.

The NOIPolls CCI measures how optimistic or pessimistic consumers are regarding their present and future economic prospects.

The drop in the CCI suggests that the spending pattern of Nigerian households declined in Q3, 2018.

According to the report released yesterday, the two variables that made up the CCI -the Present Situation Index (PSI) and the Expectation Index (EI) both experienced a decline.

The PSI declined by 1.4 points from the results obtained in Q2, 2018 to stand at 41.7 points in Q3, 2018, similarly, the EI declined by 9.7-points from the 84.77 obtained in Q2,2018, to stand at 75.1-points.

In February 2014, NOIPolls Limited introduced its portfolio of indices; the NOIPolls Personal Well-Being Index (PWBI), the NOIPolls Consumer Confidence Index (CCI) and the NOIPolls Eagle 30 Business Confidence Index (EBCI).

The NOIPolls Personal Well-Being Index measures factors impacting on the lives of everyday Nigerians; thereby producing a complete view of the individual’s personal well-being.

The NOIPolls Consumer Confidence Index provides consumer assessments of the economic situation and their intentions and expectations for the future.