By Udeme Akpan
Nigeria’s Consumer Confidence Index (CCI) in the third quarter of 2018 (Q3’18) dropped by 7.0points to stand at 60points as against 66.95 points recorded in the second quarter (Q2’18).
In its latest report sent to Vanguard yesterday, NOIPolls indicated that the drop in the nation’s CCI which measures how optimistic or pessimistic consumers are regarding their present and future economic prospects, “suggests that the spending pattern of Nigerian households declined in Q3, 2018.”
It stated: “Furthermore, the two variables that make up the CCI; the Present Situation Index (PSI) and the Expectation Index (EI) both experienced a decline.
“The PSI declined by 1.4 points from the results obtained in Q2’18 to stand at 41.7 points in Q3’18, similarly, the EI declined by 9.7 points from the 84.77 obtained in Q2’18 to stand at 75.1 points”.