Consumer confidence in Nigeria strongest in Sub Saharan Africa

The latest Nielsen Consumer Confidence Index (CCI) results for Q2, 2016 show that of the four Sub-Saharan African countries measured by Nielsen; Nigeria's consumer confidence score (122) continued to rank highest, rising two points from the first quarter. Kenya's score (114) was not far behind and Ghana's confidence score of 104 was unchanged for the third consecutive quarter, while South Africa consumer confidence increased three points to 78.

CCI levels of above or below a baseline of 100 indicate degrees or optimism and pessimism, respectively. Kenya, Ghana and Nigeria are the only countries in the world whose data was compiled from a mobile survey methodology.

In Nigeria, immediate-spending intentions jumped five percentage points to 48%, but personal-finance sentiment (81%) and the job prospect outlook (64%) were relatively stable from the first quarter.

In Ghana, job prospect sentiment decreased to 44%, declining by four points over the previous quarter. Personal-finance sentiment dropped one percentage point to 69% and immediate-spending intentions increased by one percentage point to 36%.

Global consumer confidence held steady in the second quarter of 2016 at 98, an index score that was flat from the first quarter and two points higher than a year earlier (Q2 2015).