Indexes
June 2023 | CCI: Improvement in consumer sentiment
12
October
2023
Rise in CCI. The Consumer Confidence Index experienced an increase of 3.4 index points – from -24.1 in May to -20.7 in June. This is the highest mark the CCI has reached since the pandemic struck in March 2020. The month-on-month (MoM) positive shift was mostly driven by an increase in consumer expectations about the future economic situation. Notably, the Expectations Index rose by 5.9 index points, while the Present Situation Index increased by 1 index point.
In May, there was a decline in consumers’ assessment of their current and expected personal financial situations, and this never reversed in June. Rather, the MoM increase derived from heightened sentiment towards future inflation and unemployment levels among the interviewed population; those expectations already having been on a rise since May. Although high price levels have been sustained over recent years, the majority of interviewed respondents do not expect these levels to experience a further increase – where 40% of respondents believe that prices will rise at a slower pace, whereas 39% state that prices will remain the same or decline.
As for expectations about unemployment, consumers appear to feel relatively stable on that front. Specifically, almost half of the respondents think that current unemployment levels will remain unchanged, while 35% expect the unemployment level to decrease.
In spite of positive monthly changes in the CCI, the overall value of the index is negative, signaling low level of consumer confidence in Georgia.
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February 2024 | Downward trend continues
31
March
2024
CCI declines further. After a small decline in the Consumer Confidence Index in January, the downward trend continued further in February – the CCI dropped from -15.5 in January to -17.7 in February (by 2.2 index points). On this occasion, the two sub-indices diverged in different directions
January 2024 | A setback in CCI
18
February
2024
A slight trend reversal in the CCI. After a rise in the Consumer Confidence Index (CCI) in December, January saw a small decline – from -14.1 in December to -15.5 in January, dropping by 1.4 index points. This fall is evident in both sub-indices – the Present Situation Index declined by 0.9 points and the Expectations Index by 2 points.
December 2023 | Jump in the CCI
21
January
2024
CCI sees improvement. The Consumer Confidence Index has experienced a significant positive shift, increasing by 6 index points – from -20.1 in November to -14.1 in December. Both the Present Situation Index and the Expectations Index contributed to this notable increase; however, the predominant factor was the rise in expectations (the Present Situation Index rose by 4.7 points and the Expectations Index by 7.4).
November 2023 | CCI declines
04
December
2023
The upward trend reversed. The Consumer Confidence Index lost its rising trend and fell by 3.7 index points, moving from -16.4 in October to -20.1 in November. Both the Present Situation Index and the Expectations Index contributed to this decline, with the Present Situation Index declining by 5 index points, while the Expectations Index decreased by 2.4 points.
October 2023 | A further increase in the CCI
16
November
2023
The upward trend continues. The Consumer Confidence Index experienced further growth of 3.1 index points – from -19.5 in September to -16.4 in October. This time, the Present Situation Index led the increase by shifting upwards 5.5 points, while the Expectations Index rose more moderately, by 0.5 points.
