Indexes
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: while the Present Situation Index increased by 1 point, the Expectations Index decreased by 5.3 points.
Consequently, the overall downward trend resulted from a decline in expectations. Namely, a relatively high decrease was seen in expectations regarding future price levels, where in February almost 70% of consumers believed that prices would continue to rise during the upcoming year (in January this indicator stood at 58%). One driver potential behind this trend might be the news that the Russian Federation is banning exports of gasoline for six months, starting from 1 March.
Moreover, more consumers are hesitant about making major household purchases within the upcoming year. The share of respondents who think they will spend less on such purchases this upcoming year in comparison to last year increased from 34% in January to 43% in February.
Tbilisi vs the regions. While the CCI has increased for the Tbilisi population (by 2.3 index points), it worsened for those in the rest of Georgia (by 5 points). It seems that the spike in expectations that the CCI saw in December (a significant rise derived from heightened expectations throughout the rest of Georgia) only had a short-term effect.
BAR CHARTS: Consumer Responses by Questions |
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Note: Starting in July, the CCI underwent minor shifts in methodology. Specifically, the questionnaire was slightly modified, in terms of how questions were formulated when conducting a survey.
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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.
March 2024 | Upheaval of the CCI
01
April
2024
Another rise in CCI. After the downward trends in January and February, the CCI increased by 3.9 index points, from -17.7 in February to -13.8 in March. Both the Expectations Index and the Current Situation Index moved upwards in tandem, increasing by 4 and 3.8 index points, respectively.
