The NOI Polls Consumer Confidence Index for November 2014 declined to 68.8-points.
This represents a 2.5-points drop from October 2014, which still shows a relatively high level satisfaction and also infers that Nigerians remain somewhat positive about their current situation and hopeful for a favourable future.
The NOI Polls Consumer Confidence Index comprises of two independent variables: the Present Situation Index (PSI) and Expectation Index (EI). The PSI declined by 4.6-points to stand at 58.6-points, revealing that Nigerians are slightly less confident of their present economic situation.
Also, the EI declined by 1.5-points to currently stand at 76.4-points, implying that consumers are remain optimistic about the future in spite of the slight decline.
Trend analysis reveals that the overall CCI dropped by 2.8-point to 68.8-points in November 2014. The CCI average since January 2014 is 72.6-points, inferring that the CCI for November 2014 is 3.8-points below the eleven months average.
The Consumer Confidence Index polls were conducted in the month of November 2014.
The CCI involved telephone interviews of a random nationwide sample. 4,000 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed.
With a sample of this size, there is a 95 percent confidence that the results obtained are statistically precise – within a range of plus or minus 2 percent. NOIPolls Limited, is No1 for country specific polling services in West Africa, and works in technical partnership with the Gallup Organisation (USA), to conduct periodic opinion polls and studies on various socio-economic and political issues in Nigeria.
