Consumer confidence deteriorates in 1QCY21
Strict restrictions in wake of rise in Covid cases hit consumer trust
KARACHI:
The confidence of consumers in Pakistan’s economy deteriorated in the first quarter of 2021 due to toughening restrictions following a surge in Covid-19 cases in the country to contain the third wave of the pandemic.
During the Jan-Mar quarter, all consumer confidence parameters recorded a decline.
The consumer sentiment factor registered a strong deterioration as it fell 16% owing to uncertain economic conditions on account of re-imposition of smart lockdowns across the country, stated the Consumer Confidence Index (CCI) report for the first quarter of 2021. The report, prepared by Dun and Bradstreet Pakistan and Gallup Pakistan, assessed consumer confidence in the overall state of the economy as well as their personal financial situation.