76pc concerned about economy, 68pc about personal financial situation

ISLAMABAD: An increase in mistrust of consumers on the current economic situation of the country is being witnessed. Some 98 per cent of Pakistanis are not happy with the country’s direction and call it wrong.

The findings were presented in the third quarter report of Consumer Confidence Survey of 2023 by a research company, IPSOS Pakistan.

Also, the findings showed 76pc Pakistanis consider the economy to be weak, while 66pc are not hopeful for an improvement in the country’s economy in future.

During the survey, more than 1,100 people from all over the country were interviewed. The survey was conducted between August 28 and September 1, 2023.

In the survey, 98pc of Pakistanis expressed distrust in the country’s direction and called it wrong, while two per cent said the country was moving in the right direction.

Similarly, the percentage of Pakistanis who consider the country’s economy to be weak has reached 76pc after an increase of eight per cent, compared to the previous survey. While the figure of those who said the country’s economy is strong remained at three per cent.

The percentage of Pakistanis, who have a moderate position on the state of the economy, was down from 28pc to 22pc.

Sixty-six per cent of Pakistanis also expressed disappointment on the question of an improvement in the country’s economy in the next six months. Ten per cent hoped for an improvement, but 24 per cent took a neutral position on it.

In the survey, the figure of Pakistanis worried about their financial situation increased by 8pc, 68pc said their financial situation was weak, while the figure of Pakistanis who said their financial situation was strong decreased from 5pc to 3pc. The percentage of those with a moderate position decreased from 35pc to 29pc.

To a question of an improvement in the financial situation in future, 60pc of Pakistanis expressed disappointment and said that their financial conditions would become weaker, but 14pc hoped for an improvement, and 26pc said that there would be no difference.