This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press
The High Commission for Planning announced that the household confidence index stabilized, during the fourth quarter of 2024, at 46.5 points, instead of 46.2 points recorded during the previous quarter and 44.3 points recorded in the same quarter last year.
The Commission underlined in its recent information note on the results of research on the situation of families that “the results of ongoing research on the situation of families, carried out by the High Commission for Planning, showed that the index Household confidence recorded a slight improvement during the fourth quarter of 2024, whether compared to the previous quarter or the previous quarter.
Standard of living should improve, according to families’ opinions
During the fourth quarter of 2024, the percentage of households who reported that their standard of living had deteriorated over the previous 12 months was 81 percent, while 14.2 percent of them considered it stable and 4.8 percent considered it improving.
Thus, the balance of this index stabilized at a negative level of minus 76.2 points instead of minus 75.8 points during the previous quarter and minus 83.2 points during the same quarter of last year .
During the fourth quarter of 2024, 53.8 percent of families expect living standards to deteriorate over the next 12 months, 38.5 percent expect it to stabilize, while 7 .7 percent expect improvement.
Thus, the balance of this index stabilized at minus 46.1 points instead of minus 49.3 points during the previous quarter and minus 49.0 points during the same quarter of last year.
Evolution of the unemployment rate: an increase is expected
During the fourth quarter of 2024, 82.7 percent of households, compared to 5.5 percent, expected an increase in the level of unemployment over the next 12 months. Thus, the balance of this index stabilized at a negative level of minus 77.2 points, against minus 76.3 points during the previous quarter and minus 80.3 points during the same quarter of last year.
A circumstance that is not conducive to the acquisition of durable goods, according to the perception of families
During the fourth quarter of 2024, 80.0 percent of households considered conditions not conducive to purchasing durable goods, while 8.1 percent saw the opposite.
Thus, the balance of this index stabilized at a negative level of minus 71.9 points, compared to minus 69.7 points during the previous quarter and minus 70.4 points during the same quarter of 2023.
Families have a negative perception of their financial situation
During the fourth quarter of 2024, 56.5 percent of families reported that their income covered their expenses, while 41.2 percent exhausted their savings or resorted to borrowing. The rate of families having been able to save part of their income does not exceed 2.3 percent.
Thus, the balance of families’ opinions on their current financial situation stabilized at a negative level of minus 38.9 points, compared to minus 39.3 points during the previous quarter and minus 40.3 points during the same quarter. from last year.
Regarding the change in the financial situation of families over the past 12 months, 52.7 percent of families said it had deteriorated, compared to 5 percent.
Thus, the balance of this index stabilized at minus 47.7 points, against minus 48.4 points during the previous quarter and minus 56.1 points during the same quarter of last year.
As for families’ perceptions of how their financial situation will change over the next 12 months, 15.2 percent of families, compared to 31.5 percent, expect an improvement. Thus, the balance of this index reached minus 16.3 points, against minus 18.1 points during the previous quarter and minus 10.6 points during the same quarter of last year.
Ability to save: constant pessimism
During the fourth quarter of 2024, 11.1 percent, compared to 88.9 percent of families, reported their ability to save over the next 12 months. Thus, the balance of this index stabilized at its negative level, recording minus 77.8 points, against minus 78.1 points during the previous quarter and minus 80.7 points during the same quarter of last year .
An almost general perception of the rise in food prices
During the fourth quarter of 2024, the majority of households (97.5 percent) reported that food prices had increased over the past 12 months.
The balance of this index stabilized at a negative level of minus 97.2 points, the same level recorded during the previous quarter, against minus 97.4 points during the same quarter of last year.
As for the evolution of food prices over the next 12 months, 83.3 percent of families expect them to continue to increase, while the rate of families expecting their decrease does not exceed 1.5 percent. Thus, the balance of these opinions stabilized at a negative level of minus 81.8 points, instead of minus 83.5 points recorded during the previous quarter and minus 77.6 points recorded during the same quarter of the ‘last year.
The components of the household confidence index concern their opinions on the evolution of the standard of living, unemployment, opportunities to acquire durable goods, as well as the evolution of their financial situation.
In addition to the previous indicators, this research provides quarterly data on families’ perceptions of other aspects of their living conditions, including savings capacity and changes in food prices.
