Consumer confidence remained low in October

Confidence among consumers in six major urban centers in Africa remained low again in October.

The Kasi Consumer Confidence Index and the KIC Score rose slightly by 2 points to +7 from +5 in September. The current economic conditions metric remained negative at -20, while the economic expectations metric remained positive at +17.

The October readings of the KIC score range from -2 (Abidjan) to +22 (Douala). This is somewhat tighter than the September readings, where the KIC ranged from -13 (Abidjan) to +20 (Lagos). In October, Abidjan and Accra remained negative, while Joburg continues to be under pressure due to a stagnant economy. Douala in Cameroon remained the bright spot.

City-level highlights from the October release: Douala (Cameroon): Consumer confidence remained positive.

Douala remained a city with overall positive consumer confidence
In fact, the overall KIC score rose 2 points to +22 in this month compared to +20 in previous month
Consumer perception on current economic conditions moved up +10 compared to +2 in previous month
Consumer perception on future economic conditions dropped slightly 1 point to +26 vs +27 in September

Nairobi (Kenya) Consumer confidence stayed flat in October.

Nairobi remained a city with overall positive consumer confidence
The overall KIC Score stayed flat at +5 in September
Consumer confidence on current economic conditions stayed negative at -19
Consumer confidence on future economic conditions remained stable at +14 points

Accra (Ghana): Consumer confidence is down again in October.

Accra consumer confidence remained negative
The overall KIC Score dropped 4 points to -6 in October
Consumer confidence on current economic conditions dropped 25 points to reach -31
Consumer confidence on future economic conditions edged up 16 points to reach -1

Lagos (Nigeria) Consumer confidence is down again in October.

Consumer confidence in Lagos dropped again in September
The overall KIC Score hit +8, down 2 points from previous month
Consumer confidence on current economic conditions is up a bit 4 points) to -34
Consumer confidence on future economic conditions dropped 4 points to +24
The overall decline in the score is across the board and reflected in each metric.

Abidjan (Ivory Coast) Consumer confidence remained negative in October.

Consumer confidence in Abidjan rose in October
The overall KIC Score hit -2, up 11 points from previous month
Consumer confidence on current economic conditions rose 7 points to -21
Consumer confidence on future economic conditions rose 12 points to +6

Johannesburg (South Africa) Consumer confidence remained negative in October.

Consumer confidence in Johannesburg dropped slightly in October
The overall KIC Score hit +1, down 11 points from previous month
Consumer confidence on current economic conditions rose 7 points to -31
Consumer confidence on future economic conditions dropped 20 points at 13

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KIC Score (5-month trend)

About the KIC Score

Released every month, the Kasi Insight Consumer Perceptions Index (KIC Score) provides a focused view on consumer perceptions in key African cities where most spending on the continent is concentrated. The survey provides a simple measure of consumers’ perceptions about their economic prospects in the near term and their attitude towards making major purchasing decisions. Subscribe now

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