Consumer Confidence Index
In the second quarter of 2017, Consumer Confidence Index (CCI) in Mongolia has decreased by 20.0 percentage points compared to the same period of the last year and reached to 70.7. A significant decrease in the Expectation Index, contributed to this fall. In particular, the Expectations Index has decreased by 43.1 percentage points and reached to 95.2. However, the Current Situation Index has increased by 14.5 percentage points (74.7%) from the same period level of 19.4 and reached to 33.9. The Current Situation Index has improved in 2 consequent quarters.
Figure 1. Consumer Confidence Index
Improvement in business condition (15.9 pp) and job availability (13.1 pp) caused an increase in the Current Situation Index. A sharp fall in the expectation about business condition (50.4 pp) and job availabillity (56.7 pp) in near future or next six months was the main cause for a decrease in the Expectation Index. However, expectation index of income has decreased by 22 percentage points.
The average annual growth rate of the quarterly GDP was 11.9 during the period of higher than normal (100) Consumer Confidence Index, whereas the average growth rate was 4.7% during the period of lower than normal CCI.
Figure 2. CCI and GDP