Nigeria-Consumer-Index

Nigeria’s Consumer Confidence Index for Q4 of 2018 rises to 64.3 points – NOIPolls

APA – Lagos (Nigeria)

The Consumer Confidence Index (CCI) report released on Tuesday in Abuja by NOIPolls for the fourth quarter (Q4), 2018 showed a 3.5-point increase in the CCI to stand at 64-points in Q4, 2018, up from 60.2-points obtained in Q3, 2018.

NOIPolls is Nigeria’s leading and polls and survey firm,

The NOIPolls Consumer Confidence Index measures how optimistic or pessimistic consumers are regarding their present and future economic prospects. The increase in the CCI suggests that the spending pattern of Nigerian households increased in Q4, 2018.

It added that the Present Situation Index (PSI) declined, while the Expectation Index (EI) experienced an increase and these are the two variables that make up the CCI.

The PSI declined by 3.4-points from the results obtained in Q3, 2018 to stand at 38.3 -points in Q4, 2018, contrarily, the EI increased by 7.0-points from the 84.2 points obtained in Q3, 2018 to stand at 91.2-points.

These are the key highlights from the Q4, 2018 Portfolio of Indices.

It will be recalled that 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.

The NOIPolls Eagle 30 Business Confidence Index measures business leaders’ perceptions and expectations about the Nigerian business environment using the top 30 companies in the country.

Nigerian businesses, financial and government agencies largely depend on their perceptions and micro assessment of consumers’ expectation in making decisions.


GIK/APA

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