Moroccan Consumer Confidence Hits Record Low Amid Economic Concerns

In its ongoing survey on the economic situation, the HCP revealed that the indicator that synthesizes household confidence in the second quarter of the year lost three points and fell to 50.1 compared to the previous quarter, far from the 63 points recorded in the same quarter of the previous year.

Overall, 79.2% of households report a deterioration in the standard of living over the past 12 months, 14.6% a maintenance at the same level and 6.2% an improvement. Over the next 12 months, 46.8% of households expect a deterioration, 40.7% a maintenance at the same level and 12.5% an improvement, details the HCP.

Regarding unemployment, the survey notes a persistent negative perception. Thus, 86% against 4.9% of households expect an increase in unemployment over the next 12 months. Other survey data on savings and the cost of food products testify to the feelings of Moroccan households, who apprehend a rise in the cost of living over the next 12 months.