Friday, 31 Mar 2023
Consumer Confidence Survey under way

Consumer Confidence Survey under way

Conducted by the National Centre for Statistics and Information (NCSI) more than phone, the survey assesses the degree of satisfaction amongst citizens with regard to the sultanate’s financial status as reflected by inflation, employment possibilities, investment climate, financial policies pursued by the government, and the price of living, amongst other individuals.

Omanis aged 18 or above across the 11 governorates are taking component in the survey. The error margin is about 3 per cent. The survey will conclude on September 12.

According to NCSI officials, the survey aims to calculate the Index of Consumer Sentiment, which is a crucial measure of the state of economy. It gauges the extent of public optimism relating to financial improvement in the quick-term (a single year).

Consumer self-assurance index is a reflection of the behaviour of shoppers. An boost in client spending leads to a rise in demand for numerous goods and solutions.

This outcomes in elevated production and a rise in production facilities to meet that demand, which in turn aids the financial recovery procedure.
On the contrary, a decline in customer spending leads to an financial downturn. Thus, the customer self-assurance index gives a futuristic thought about the path of financial development.

The methodology requires easy arithmetic typical of 3 sub-indicators, namely existing financial situations index, household earnings level index, and customer expectations index.

The survey assigns suitable weight in terms of governorate, sex, educational levels (beneath secondary, secondary and above secondary), and age (much less than 30 years, among 30 and 50, and above 50).

NCSI will carry out quarterly surveys in order to stick to up on the adjustments in indicator values.

Information Source: Muscat Daily

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