Amman — Data from the Ipsos Consumer Confidence Index showed that consumer confidence in Jordan’s national economy rose by 1.9% year-on-year during the third quarter of this year compared with the same period last year, reaching 42.6%.
According to the report monitored by Al-Ghad, 64% of respondents clearly believe that things in Jordan are moving in the right direction, placing the country fourth globally on this indicator and ahead of many economies. The finding suggests that the current economic situation is more positive and dynamic than it was previously.
The Ipsos Consumer Confidence Index is a quarterly national survey that tracks consumers’ financial and economic assessments and their investment intentions.
Unemployment remained the leading challenge, cited by 56% of respondents, followed by inflation at 54%, poverty and social inequality at 36%, education at 27%, and healthcare at 20%.
Meanwhile, the consumer confidence index for the outlook of the local economy rose during the third quarter to 58.5%, an increase of 2.7% compared with the same period last year.
The general job security sub-index also rose by 1.1% year-on-year to 50.3%, while consumer confidence in their personal financial capabilities increased by 1.4% year-on-year to 30.2%.
In contrast, the consumer confidence index for the investment climate declined by 1.6% year-on-year to 32.5%, although expectations for a future recovery remained positive.
According to the report, 64% of Jordanians participating in the survey believe that economic conditions in Jordan are moving in the right direction, compared with 36% who hold the opposite view.
Regarding current economic conditions, 58% described them as positive and encouraging, while 42% considered them negative.
Looking six months ahead, half of the Jordanians surveyed, or 50%, expressed strong optimism that economic conditions would become stronger and more prosperous than they are today. Meanwhile, 37% expected conditions to weaken, while 13% anticipated no change.
Regarding consumers’ current financial capabilities, 53% of respondents described them as weak, while 26% said they were stronger and 21% said they had remained unchanged.
Looking ahead to their personal financial situation over the next six months, 54% expressed strong confidence that their financial position would improve and become stronger. In contrast, 30% expected it to weaken, while 16% anticipated stability.
Regarding job security compared with six months earlier, 38% said they were more confident, while 62% said they were less confident.
As for their ability to invest in the future, 34% said they were more confident, compared with 66% who reported lower confidence.
Regarding their ability to make major purchases, 20% said they felt more comfortable doing so, while 80% felt less comfortable.
For purchases of durable household goods, 25% said they were more comfortable, compared with 75% who said they were less comfortable.
Source: Al-Ghad
