The High Commission for Planning (HCP) reported that the Household Confidence Index settled at 46.2 points, compared to 46.1 points in the previous quarter and 46.5 points in the third quarter of last year.
In its latest briefing on the results of the household economic survey, the HCP highlighted that « the permanent survey results indicate that the Household Confidence Index showed near stability during the third quarter of 2024, compared to the previous quarter and the same quarter in 2023. »
During Q3 2024, 80.6% of households reported a deterioration in their living standards over the past 12 months, while 14.6% reported stability and 4.8% an improvement. Consequently, this indicator remained negative at -75.8 points.
Regarding the expected evolution of living standards over the next 12 months, 56.9% of households anticipate a decline, 35.5% foresee stability, and 7.6% predict an improvement, resulting in a negative balance of -49.3 points.
Additionally, 82.2% of households expect an increase in unemployment over the next 12 months, compared to 5.9% who foresee a decrease, with this indicator standing at -76.3 points.
In the same quarter, 78.7% of households considered conditions unfavorable for purchasing durable goods, while 9% thought otherwise, leaving this indicator at a negative balance of -69.7 points.
Regarding their financial situation, 54.9% of households stated that their income covers their expenses, while 42.2% resorted to using savings or borrowing. Only 2.9% managed to save part of their income, with the balance of opinions on their current financial situation at -39.3 points.
Over the past 12 months, 53% of households reported a deterioration in their financial situation, compared to 4.6% who observed an improvement, leaving the indicator at -48.4 points. Looking forward, 15% of households expect their financial situation to improve over the next 12 months, 51.9% expect stability, and 33.1% anticipate a decline, resulting in a negative balance of -18.1 points.
The components of the confidence index include households’ opinions on the evolution of living standards, unemployment, opportunities for purchasing durable goods, and their financial situation.
