Inflation, unemployment expected to rise further in next 6 months, survey report

Karachi: In the first quarter of 2021, more than 52% of consumers believed that the unemployment rate will increase further in the next six months.In the first quarter of 2021, the Consumer Confidence Index declined by 10.8% on a quarterly basis to 80.8 points. The government’s ban on business activities to combat the third wave of corona virus has eroded confidence.The current situation also saw a 12.0% drop in consumer expectations for the future, down from 8.3% in the previous quarter. This is stated in a joint survey report released by Dun & Brad Street Pakistan and Gallup Pakistan based on indicators of confidence of local consumers.

Noman Lakhani, Country Manager, Dun & Brad Street, said the fifth issue of the Consumer Confidence Index was launched in early 2021, reflecting growing consumer concerns about a more than 10% quarterly decline in consumer confidence However, lower expectations for the current situation show that consumers are more concerned about the future.Gallup Pakistan Executive Director Bilal Ijaz Gilani said in the survey report that in the first quarter of 2021, consumers are not only worried about the current situation but also worried about the future.