Consumer Confidence Index

Details: Created: 11 February 2019

Being a researcher is not only my job, it is my way of life. Every time I get the chance, I start conversations with random people and ask them tons of questions. During a recent taxi ride, after I asked the driver how his business was going, he told me that the demand for taxis had fallen significantly in January. He also added that January is typically a harsh period, and there’s not much money left for comfortable trips after the traditional “Supras”, as well as the recently introduced “Secret Santa” gift exchanges.

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Details: Created: 12 December 2018

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According to a nationally representative sample of 307 Georgians interviewed in early November 2018, the Consumer Confidence Index (CCI) dropped by 4 index points, from -18 in October to -22 in November. A similar pattern was observed in both sub-indices: the Present Situation Index went down by 4.7 (from -22.6 to -27.3), and the Expectations Index went down by 3.2 index points (from -13.4 to -16.6) compared to October.

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Details: Created: 20 November 2018

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According to a nationally representative sample of 331 Georgians interviewed in early October 2018, the Consumer Confidence Index (CCI) dropped by 2.8 index points, from -15.2 in September to -18 in October. A similar pattern was observed in both sub-indices: the Present Situation Index went down by 5.3 (from -17.3 to -22.6), and the Expectations Index by 0.2 index points (from -13.1 to -13.4) compared to September.

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CCI Methodology

The ISET Consumer Confidence Survey follows the standard EU methodology (see Useful Links): we randomly sample 300-350 individuals on a monthly basis and question them about the past, current and future financial situation of their families and the country as a whole.Consumer confidence is the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation. How confident people feel about stability of their incomes determines their spending activity and therefore serves as one of the key indicators for the overall shape of the economy. In essence, if consumer confidence is higher, consumers are making more purchases, boosting the economic expansion. On the other hand, if confidence is lower, consumers tend to save more than they spend, prompting the contraction of the economy. A month-to-month diminishing trend in consumer confidence suggests that in the current state of the economy most consumers have a negative outlook on their ability to find and retain good jobs. Read more