Consumer Confidence Index: 1st quarter 2021

In the 1st quarter of 2021, CCI is at the same level as the same period in the previous year. The current situation index has fallen significantly, while the expectation index has increased substantially. In particular, deterioration in job availability and the business condition caused a decrease in the current situation index. 

The expected inflation in the next six months is 7.2 percent, and it is 9.1 percent for the following year. In the next six months, consumers expect the exchange rate of USD to be around 2900 MNT. 

In the first quarter of 2021, the demand for durable goods is considerably lower than the average level in 2020. The demand is also smaller compared to the level in the same period of 2020. This reduction is mainly driven by a decrease in the demand for major appliances and furniture, and automobile.

Trust in the financial organizations is stable compared to the trust in 2019 and 2020. Trust in the government has declined from its level in 2020.  

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