Compared to September 2016, the overall CCI went up by 4.9 points, from -15.7 to -10.8. The present situation index increased by 6.9 points, from -21.2 to -14.3, and the expectation index went up by 3 points, from -10.2 to -7.2. It appears that a trend is continuing that has been ongoing since January (interrupted only by the interesting August swing-back, which we discussed in a blog article:). One may also see this as an extension of the upward trend that started even earlier, namely in September 2015.
In September 2016, ISET’s Consumer Confidence Index added 13 points, the single largest monthly increase in the Index since its launch more than 4 years ago. Having risen from -28.7 to -15.7 points, the CCI rebounded to levels we have last observed about two years ago, in fall 2014 (i.e. at the outset of the GEL devaluation drama). Both the Expectations and Present Situation components of the CCI soared (up by 11.1 and 14.9 points, respectively), breaking historical records for monthly increases.
In August 2016, the consumer confidence turned towards the negative compared to the previous month.
This decline was observed for almost all questions, except the questions related to the current personal financial position and the readiness to save. The question related to expected major purchases within the next 12 months experienced the biggest decrease.