Senegalese households’ savings capacity down -Survey

APA - Dakar (Senegal)

The current savings capability of Senegalese households decreased by 2.8 points in the second quarter of 2019, compared to the previous quarter, according to a recent survey by the Directorate of Forecasting and Economic Studies.

According to the surveyed households, their savings capacity increased from 11.3 points in the first quarter of 2019 to 8.5 points a quarter later.

On the other hand, their opinions on their potential for future savings and the opportunity to make major purchases, respectively improved by 11.5 points (down 34.2 points from 45.6 points in the first quarter) and 7.3 points (- 44.6 points against - 51.9 points in the first quarter).

However, households’ balance of opinions remains above their respective long-term averages.

Regarding the country’s economic situation, households are more optimistic in the second quarter of 2019 than in the previous quarter. The balance of opinions corresponding to their present and future standard of living respectively improved by 1.5 point and 0.4 point over the period. Nevertheless, they remained below their respective long-run averages.

“Besides, DPEE explains that households’ fears of a possible rise in unemployment have eased (-4.4 points), the corresponding balance being above its average level.

Overall, Senegalese households’ confidence improved in the second quarter of 2019 compared with the previous quarter. Thus the indicator that synthesizes it gained 5.8 points, standing at 104.9 points in the second quarter against 99.1 points in the first quarter. The synthetic indicator is above its long-term average, which is 100 points.


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