Consumer Confidence Index in Kyrgyzstan in October showed a decline for the second month in a row. The index (CCI) fell by 3.6 points over the month, reaching 137.2 points. The macroeconomic study of consumer confidence of residents of Central Asian countries for October 2024, which was conducted by Freedom Finance Global, says.
This time, all five sub-indexes that determine the index composite level showed a decline. The largest decline is recorded in the matter of estimating changes in the economic situation over the past 12 months. However, the index grew by 8 points compared to October 2023 after a strong improvement in the first half of 2024.
The sub-index of estimates of changes in the economic situation over the past 12 months showed the largest monthly decline. It is worth noting that this sub-index was the main driver of the recent strong growth in consumer confidence. It fell by 7.2 points in October. More than 67 percent of residents indicated an improvement in the economic situation, while this figure reached 71.7 percent in September.
Among the age groups, the decline is observed across the entire spectrum, but the deterioration was formal among the older generation. Over 72 percent of the country’s residents over 60 years old noted an improvement in the economic situation. However, respondents aged 45–59 were at the end of the list, the share of positive answers fell sharply from 74.3 to 64.3 percent among them.
In the regional context, there is also a multidirectional dynamics in improving estimates of changes in the economic situation. The leader of October and the one that showed the greatest increase in the share of positive responses was Talas region, where the indicator increased from 69.7 to 80.5 percent. This region took over the leadership from Batken region, where the same share fell by 9.3 p.p. The share also decreased significantly in Bishkek and Naryn region by 10.7 and 10.5 p.p., respectively. Finally, residents of the capital responded the worst: only 50.7 percent of them noted positive changes in the economy.
