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Cabinet: Egyptian consumer confidence fell in November Less than 14 per cent of Egyptians polled believe new economic policies will yield short-term financial improvements
Egyptian consumer confidence fell 4.9 per cent month-on-month in November, according to a recent report by the Cabinet's Information and Decision Support Centre (IDSC). The IDSC report attributed the regression in confidence to last month's pre-polling violence in and around Cairo's Tahrir Square. Family income levels and overall Egyptian confidence levels also had an obvious impact on the global index. The family income index plunged 13.3 per cent in November to 44.9 points, with 15.2 per cent of those polled believing that the time was ripe to purchase durable goods, versus 20.2 per cent in October. The economic-policy confidence index also declined by 7.2 per cent month-on-month in November to reach 72.3 points, with only 13.9 per cent of Egyptians polled believing that new economic policies would lead to an improvement in their respective financial conditions in November, versus 18.8 per cent in October. Expectations of improved living and economic conditions, for both families and society as a whole, fell by 1.2 per cent, meanwhile, but remained higher than other indices at 168.5 points. In November, only 52.9 per cent of those polled expected short-term improvements to the country's overall economic situation, while around 57 per cent had expressed optimism a month earlier. Young people between 18 and 30 years of age were the most optimistic, according to the index, followed by those above 50. Middle aged groups, meanwhile, were the most pessimistic.
