Indexes
May 2023 | CCI: Consumer confidence stays at the same level
27
June
2023
No major shifts in overall May CCI. The Consumer Confidence Index (CCI) decreased marginally from -24 in April to -24.1 in May, largely maintaining the new level it had reached in April. The two sub-indices of the CCI each moved in opposite directions: the Present Situation Index declined by 1 index point, while the Expectations Index rose by 0.6 points.
Although overall sentiments remain almost unchanged, the different CCI indicators experienced considerable shifts. In May, significantly more people stated that their personal financial situation had worsened, and that they had no hope their situation will change within the upcoming year. In April, 46% of respondents considered their personal financial situation to have either worsened a little or significantly, while in May this reached 66%. These results seem counterintuitive, as the monthly inflation rate has been negative for four consecutive months. Besides inflation, remittances have followed a positive trend, increasing by 4% compared to April 2023. Concurrently, it should be noted that the overall price level remains high, as the country has been experiencing a considerable period of high inflation over recent years.
This negative picture is however compensated by positive shifts in consumer expectations regarding future price and employment levels. As there is a declining inflationary trend, consumers do not expect prices to experience a further increase. As for unemployment, 36% of the respondents think the employment level will remain the same and 30% believe it will improve in the upcoming year. According to official statistics, unemployment levels in the first quarter of 2023 in Georgia declined by 1.4, which may be directing this sentiment.
BAR CHARTS: Consumer Responses by Questions |
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October 2024 | CCI deteriorating
10
November
2024
A notable fall in CCI. The decreasing trend has continued after the summer, with the CCI dropping even further in October – from -19.5 in September to -24.9 in October (a 5.4 index point decrease). Both sub-indices contributed to this decline, where the Present Situation Index fell by 6.7 index points and the Expectations Index by 4.2 points.
September 2024 | Decrease in CCI
20
October
2024
A slowed rebound. The CCI fluctuated over the summer, reaching its highest value for the period in August before a decline in September. After the Index had recovered in June, the CCI experienced a slight downturn in July, from -16.7 index points to -18.5, reaching -15.4 points in August and falling to -19.5 in September.
June 2024 | Quick recovery of CCI
29
July
2024
Certain factors negatively influencing consumer sentiment in May failed to have a lasting effect. In June, consumers’ ability to save showed significant improvements, with those able to save a proportion of their income increasing from 2% to 25%.
May 2024 | A notable drop in CCI
08
July
2024
A sharp decrease in CCI. The declining trend that started in April continued in May, with the Consumer Confidence Index dropping by 9.5 index points – from -17.8 in April to -27.3 points in May. The decline was present in both CCI sub-indices, however, it was more prominent in the Present Situation Index. Namely, the Expectations Index declined by 5.5 index points, while the Present Situation Index decreased by 13.4 points.
April 2024 | The CCI is falling
01
May
2024
Decline in the CCI. After the Consumer Confidence Index rose in March, the trend once again reversed in April – with the CCI declining by 4 index points, from -13.8 in March to -17.8 in April. Both the Present Situation and the Expectations Index each decreased, however, the decline was more prominent for people’s expectations; the Present Situation Index decreased by 1.6 points, while the Expectations Index fell by 6.4 points.
