A TWENTY POINT INCREASE IN COMPARISON TO THE SAME QUARTER IN 2016
Cairo, Egypt, May 7, 2018–
Egypt reported an improvement in consumer confidence with an index of 84 in the fourth quarter of 2017. This is a six-point increase from the previous quarter and a significant increase from the same period in 2016 with a twenty point increase.
According to the fourth-quarter 2017 Conference Board® Global Consumer Confidence Survey (TCB Global CCS), which is produced in collaboration with Nielsen, the gain in confidence from the third quarter was driven by improvements in perception of job prospects and immediate-spending intentions.
In Egypt, respondents were optimistic about their job prospects, with 40% believing they would be good or excellent in the next 12 months, an increase of three percentage points from the third quarter of 2017. Half of respondents (50%) were confident about the state of their personal finances in the next twelve months, declining only one percentage point from the previous quarter. Moreover, immediate purchasing intentions also saw an increase of three percentage points to reach 29% in Q4 in comparison to 26% in Q3 2017.
“Egypt is undergoing so many changes, be it on an infrastructure or economical level, with a lot of effort exerted in improving living conditions and increasing opportunities for Egypt’s very young population,” said Tamer El Araby, Managing Director, Nielsen Egypt & Levant. “After the initial instability that comes with currency devaluation, the Egyptian consumer has learnt to adapt and improve along with the changes. There is still quite a distance to travel, but the country is well on its way to a level of stability, and maybe growth.”
Africa / Middle East saw the greatest change globally, with the region’s consumer confidence index rising three points to a score of 92, but it remains below the global average. Five out of six Africa / Middle East markets showed consumer confidence gains from the previous quarter. It declined only in one market: South Africa and currently sits at an all-time high in Pakistan. Saudi Arabia (99) posted a consumer confidence increase of six points, Egypt (84) saw an increase of three points while consumer confidence reported a significant improvement in Morocco (81), up nine points in the fourth quarter of 2017. In the Africa / Middle East region, countries that posted scores above the optimism baseline of 100 include United Arab Emirates (118) and Pakistan (113).
● The Conference Board® Global Consumer Confidence Index (the “TCB Global CCI”) score maintains at 105 in Q4 2017, which is nearly the highest on record and four points higher than the fourth quarter of previous year.
● Globally, 51 markets ends 2017 with higher confidence than the end of 2016, in which 46 of those markets reported gain larger than two points.
● TCB Global CCI in North America decreased slightly from the last quarter (119) to an index score of 117, which is the highest score of any region.
● TCB Global CCI in Europe remained at 87 in the fourth quarter of 2017, and increase of six points from 81 to end of 2016.
● While the TCB Global CCI in Asia-Pacific region held steady throughout 2017, it ended Q4 at an index of 114, which is a one point decrease from the previous quarter.
● In Latin America, TCB Global CCI was down one point from the previous quarter, finishing the year at 87.
● TCB Global CCI in Africa / Middle East ended 2017 with the greatest change in confidence levels, with the index rising three points to a score of 92 from 89 in the third quarter.
To download the full report, please visit The Conference Board® Global Consumer Confidence Survey website.
ABOUT THE CONFERENCE BOARD® GLOBAL CONSUMER CONFIDENCE SURVEY
The Conference Board® Global Consumer Confidence Survey is conducted in collaboration with Nielsen. It was conducted November 8 through November 23, 2017 and polled more than 32,000 online consumers in 64 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America. The sample includes internet users who agreed to participate in this survey and has quotas based on age and sex for each country. It is weighted to be representative of internet consumers by country. Because the sample is based on those who agreed to participate, no estimates of theoretical sampling error can be calculated. However, a probability sample of equivalent size would have a margin of error of ±0.6% at the global level. This survey is based only on the behavior of respondents with online access. Internet penetration rates vary by country. The Conference Board uses a minimum reporting standard of 60% internet penetration or an online population of 10 million for survey inclusion. The Nielsen China Consumer Confidence Index is sourced from a separate survey conducted by Nielsen China, which is based on a mixed methodology survey of more than 3,000 respondents in China. The Global Consumer Confidence Survey was established in 2005.
Nielsen Holdings plc (NYSE: NLSN) is a global performance management company that provides a comprehensive understanding of what consumers Watch and Buy. The Company’s Watch segment provides media and advertising clients with Nielsen Total Audience measurement services across all devices where content—video, audio and text—is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry's only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen provides its clients with both world-class measurement as well as analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries that cover more than 90% of the world's population. For more information, visit www.nielsen.com.