Consumer Confidence Index Slides By 4.9% in Q1 2016

Nigeria’s Consumer Confidence Index, CCI, has plunged by 4.9 per cent in the first quarter of 2016.

According to report released on Wednesday, May 25, by the NOIPolls showed that consumer confidence fell to 59.9-points in Q1, 2016 when compared with 64.8-points obtained in Q4, 2015.

The CCI portrays the confidence an average household has in the economy of the country, in relation to the households’ monthly income.

“The decline experienced in the Q1, 2016 CCI indicates that the purchasing power of consumers has reduced and as expected, the revenue generation both in the private and the public sectors have reduced accordingly,” the report said.

Meanwhile, the Personal Wellbeing Index (PWBI) also released yesterday held steady at 64.5 points in Q1, 2016.
The PWBI assesses Nigerians on several aspects of their lives.