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Egypt's consumer confidence index declined in March on the previous month, the latest data from Cabinet's Information and Decision Support Center (IDSC) showed on Wednesday. The index slipped 2.1 per cent to 100.4 points last month, with the IDSC attributing the fall to consumers' disappointment with recent economic policies and pessimism over rising living costs. The economic-policy confidence index also slumped by 5.3 per cent month-on-month in March to reach 78.1 points due to consumers' fears that Egypt’s economic situation is deteriorating. According to the latest IDSC data, a whopping 88 per cent of Egyptians are pessimistic as to the country's economic prospects, compared to only 11.2 per cent in February.
Meanwhile, Egypt’s family-income index rose in March by 8.1 per cent to reach 50.6 points, as the proportion of Egyptians who consider their monthly incomes sufficient to buy basic goods rose to 20.7 per cent compared to 17.3 per cent in February. IDSC data further showed that expectations of improved living and economic conditions fell by 3.4 per cent in March on the month before to 172.5 points.
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