One in five Pakistanis (19 percent) hope that conditions will improve in the next six months, this number was revealed by a recent Ipsos Consumer Confidence Index survey report.

According to the report, a significant improvement was noted in Pakistanis’ outlook on the country’s economic future, with optimism nearly doubling in the fourth quarter of 2024 compared to the third quarter.

Meanwhile, the economic fears, particularly inflation, have declined significantly, with inflation concerns dropping to a 3.5-year low.

The survey, which included over 1,000 participants from across Pakistan, shows a four times increase in those who believe the country is strong, while the proportion who consider it weak has plummeted to 9 percent.

Additionally, optimism about local economic conditions rose by 20 percent across the country.

Pakistan has also surpassed Turkey in the Global Consumer Confidence Index ranking for the first time in two years, improving by 1.2 points.

While one in three Pakistanis view the country’s economic situation as strong or moderate, the optimism is most pronounced among men, urban residents, the highly educated, and the middle class.

The survey report suggested that the ease of purchasing household goods has also increased by 6 percent since September 2023.

Additionally, confidence in job security reached a 3-year high, and trust in future savings has rebounded.

However, comfort with purchasing expensive items remains low, with only 4 percent expressing confidence in affording high-value goods.

Source: Dawn