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80% Pakistanis believe country heading in the wrong direction: IPSOS Survey

ISLAMABAD, Mar 07 (SABAH): According to the results of the non-governmental institution, IPSOS Consumer Confidence Index Survey in Pakistan, 4 in 5 respondents (80%) believe country heading in the wrong direction, situation has worsened by 7% in the past one year.

According to the IPSOS survey, unemployment and inflation are top issues concerning Pakistanis consistently since August 2019, Compared with March of 2021, 12% more respondents reportedly worried about inflation.

Only 8% Pakistanis rate the current state of economy as ‘strong’. Those who decisively call it ‘weak’ have increased by 14 percentage points in the last one year.

Similarly, 1 in 2 foresee it remaining weak in next 6 months. Also, Only 8% Pakistanis rate their current financial situation ‘strong’. Those who decisively call it ‘weak’ have increased by 15 percentage points in the last one year.

According to the results of the survey, similarly, more than half expect their financial situation to be even weaker in upcoming 6 months.

Reflecting last one year, 86% Pakistanis are less confident about job security as compared to one year ago. 50% Pakistanis claimed to Personally know someone who lost their job as a result of economic conditions, situation was slightly better an year ago.

84% Pakistanis are not confident about their ability to invest in future. 85% are not confident to make a major purchase and 85% are less comfortable in making household purchases.

According to the survey results, compared with the same month last year, Pakistan Consumers’ Confidence Index has gone down by only 8.3 points, which is the lowest among similar emerging markets.