The Ipsos Consumer Confidence Index survey reveals a surge in optimism about Pakistan’s direction, which nearly doubled in the fourth quarter of 2024 compared to the third quarter. This marks the highest level of confidence in three years.
Economic Concerns Decline Significantly
The report notes a sharp decrease in economic worries in 2024, with inflation—the primary concern for Pakistanis—dropping by 16% to a 3.5-year low.
Nationwide Participation
The survey gathered insights from over 1,000 individuals across Pakistan’s four provinces, Islamabad, Gilgit-Baltistan, and Azad Jammu and Kashmir.
Perception of National Strength Improves
Since September 2023, the proportion of Pakistanis viewing the country as a strong state has increased fourfold. Conversely, those considering it weak dropped to just 9%.
Optimism About Economic Conditions Rises
Optimism about local economic conditions grew by 20% in the fourth quarter. Notably, 19% of Pakistanis expect improvement in the next six months—the highest rate recorded in a year.
Global Ranking Milestone
For the first time in two years, Pakistan surpassed Turkey in the Global Consumer Confidence Index, climbing by 1.2 points.
Demographic Trends in Economic Confidence
One in three Pakistanis believes the country’s economic situation is strong or moderate. Urban residents, men, middle-class individuals, and the highly educated expressed the most optimism.
Household Purchasing Power Improves
The number of Pakistanis finding it easier to purchase household goods has risen by 6% since September 2023’s challenging period. Men and middle- and low-income groups show greater optimism compared to wealthier individuals.
Savings Confidence Recovers, Big Purchases Remain Elusive
While confidence in future savings rebounded in the fourth quarter, only 4% of Pakistanis felt comfortable making large purchases, reflecting a continued struggle with big-ticket expenses.
Job Security Confidence at a 3-Year High
The survey highlights stabilized confidence in job security since the second quarter, now reaching a three-year peak.
