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NOIPolls: Consumer confidence index climbs to 70.5 points

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The NOIPolls Consumer Confident Index (CCI) report for Q4, 2017 indicates that the CCI increased by 3-points to stand at 70.5-points compared to Q3, 2017 where it stood at 65.5-points.

The report released yesterday shows a perceived increase in the level of confidence of consumers on the state of the economy, which is mostly communicated through saving and spending patterns.

According to the report, this further increase in the CCI in Quarter 4, 2017, could be attributed to the increase in economic activities usually experienced towards the end of the year thus, translating to a slight growth in the economy.

Additionally, available data from the National Bureau of Statistics (NBS) for Q4, 2017 suggests that the economic recovery remains largely on track as the Purchasing Managers’ Index (PMI) signalled a healthy growth in November, 2017.

Similarly, the two independent variables that make up the CCI; the Present Situation Index (PSI) and the Expectation Index (EI) both experienced an increase.

The PSI experienced an increase of 6.4-points to stand at 50.6 in Q4, 2017; the EI also experienced a minimal increase of 0.9-point to stand at 85.5-points.

These are the key highlights from the Q4, 2017 Consumer Confidence Index Survey.

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