Georgian Consumer Confidence (CCI) continued to improve in August 2017, gaining almost 5 index points over the previous month (July 2017) and more than 12 points over August 2016. Ignoring the rather wild pre- and post-election swings in the index, the CCI appears to be on a steady upward trend since bottoming out in fall 2015. In August, the CCI climbed to -16.5 points, which is almost 25 index points above its value in September 2015.
Since March 2017, the CCI has shown a positive trend. It yielded 9.1 increase from March 2017 (-31) to May 2017 (-21.9), expressing the optimistic perceptions of Georgians during these months. However, the CCI did not maintain this upward trend in June. Overall, in June the CCI went down by 3.2 points compared to May 2017 (from -21.9 to -25.1). Present Situation and Expectations Indices were also affected negatively in June 2017.
In May 2017, the Consumer Confidence Index (CCI) sustains its upward trend, increasing by 3.6 points compared to April (moving from -25.6 to -21.9). Its first component, the Present Situation Index, rises by 3.4 points (from -32.8 to -29.4), and its second component, the Expectations Index, goes up by 4.2 points (from -18.5 to -14.3).
The December CCI comes as a welcome gift to Georgian policymakers, truly sending season’s greetings from Georgian consumers. Despite the expectation that the index would stabilize at a new, lower level, consumer confidence has shown the largest monthly increase in the history of the study. Both the present situation and expectations indices increased significantly.
The November CCI data has all but reversed the uptick of confidence observed in October. The Consumer Confidence Index, which began to decline about a year ago, now seems to be stabilizing at a new and lower level. The breakdown of the index between different gender and educational groups suggests that intensive media coverage of particular issues and the diversity of information sources with different biases can significantly influence consumer confidence.