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Africa’s monthly consumer confidence index reached an all-time high at +14 in May 2018.

3394 individuals sampled in the survey by  KASI KIC  in 7 urban centers in Africa was carried out between May 18, 2018 – June 5, 2018.

It shows a 4 percentage increase from April

At this level, it means that the number of consumers who are optimistic is slightly higher than those who are pessimistic (a score of zero implies equal numbers in both camps).

With a maximum of 100 and a minimum of -100, the current KIC level indicates that economic confidence continues to be  positive in the countries’ urban centers polled.

Graph showing the movement of confidence.

Consumers remain bullish in future economic prospects

Consumers continue to be a little bit concerned with the current economic conditions with the sub-metric remaining negative at -6. Despite the negative sentiment with current economic conditions, consumer optimism about future economic prospects as shown by the sub-index metric remained positive at +22 in May.

Women and men are equally optimistic

Interestingly, women are slightly a bit more optimistic than men (+14 vs +13) and younger people (aged 29 and younger) have the highest confidence measure (+16) compared to +14 for people 30 years and older.

Kenya reaches an all-time high in May

The May readings of the KIC score range from -10 in Tanzania to +30 in Ghana.
In 3 out of 7 countries, consumer confidence dropped in May with the main drivers being Cameroon and Tanzania.