Economy

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Consumer confidence index lowest ever 31 Maio 2015

Cape Verde’s Consumer Confidence Index has continued on its downward trajectory, with data collected by the National Statistics Institute (INE) showing the lowest figures ever for the indicator, revealing that Cape Verdeans’ confidence in the economy continues to fall.

Consumer confidence index lowest ever

The low level of consumer confidence registered is due to the negative appraisal of the financial situation of families, of the country and of consumers’ own homes. Families affirm that both their own and the country’s economic situation has evolved in a negative manner between the first quarter of 2014 and the first quarter of 2015. Those questioned also affirmed, however, that the prices of goods and services had gone down, as had unemployment, in comparison to the same period last year.

Most of those questioned (86%) believed that the country’s current economic situation was not conducive to savings – in the first quarter of 2014, only 68% of those interviewed were of this belief. Only 7% affirmed it possible to save money in the current economic climate.

Future perspectives

The families that responded to the INE questionnaire believe that both their own and the country’s financial situation will worsen over the next 12 months.

92% of those questioned expressed certainty that they would not be purchasing a vehicle within the next 12 months, while 80% also affirmed they did not intend to build or purchase a home in the next two years, as opposed to 63% in the same period last year. 9% affirmed they would “probably not” purchase or build a home, while 9% were “considering” acquiring a home and 2% affirmed they would “definitely” purchase or build a home.

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