Africa-Press – Cape verde. Data from the National Statistics Institute (INE) today pointed to an upward trend in the consumer confidence indicator, in the first quarter of this year, an evolution considered “positive”, compared to the same period in 2023.
According to the INE newsletter, the results that demonstrate this upward trend in the consumer confidence indicator in the last quarter are above the series average, highlighting a “slight confidence” in Cape Verdean families.
The same source explains that this result is basically justified by families’ “positive assessment” of their financial situation in the last 12 months, and the evolution of the country’s economic situation in the last 12 months in relation to the same quarter of the previous year.
“For the families surveyed, in the last 12 months, both the economic situation of their home and the economic situation of the country have evolved positively compared to the same quarter of the previous year”, points out the document, noting that, in the opinion of the respondents, in the last 12 months, both prices and unemployment have increased, compared to the same period in 2023.
According to information from the same bulletin, regarding the savings item, the majority (88.1%) of respondents in the first quarter of 2024 considered that, still, the country’s current economic situation does not allow saving money, highlighting that in the same quarter of the previous year , this percentage was 90.1%, which represents a decrease of 2 percentage points (pp) between the two periods.
“It should be noted that 9.3% of respondents stated that it was possible to save some money with the current economic situation of the country, whereas, in the same quarter of the previous year, it was 7.7%, showing an increase of 1.6 pp”, says the same source, also pointing out that around 94.3 out of every 100 respondents said they were “absolutely certain” that they did not intend to buy a car in the next two years.
Meanwhile, in the first quarter of 2024, 6.3% of respondents stated that “probably yes”, they will build or buy a house, compared to 20.8% in the same period last year, representing a decrease of 14.5 pp
“According to respondents, for the next 12 months, both the financial situation of families and the economic situation of the country should evolve positively, compared to the same quarter of the previous year. For the families surveyed, both the prices of goods and services and unemployment are expected to evolve negatively, compared to the same quarter of the previous year”, indicated the document.
A consumer survey is an effective tool for analyzing and interpreting the evolution of economic activity in the short term.
The questions, according to the methodology used in the survey, are of a qualitative nature and reflect the families’ opinions on the country’s economic and financial situation, as well as their own economic and financial situation, also evaluating the savings intention of these families.
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