CONSUMER CONFIDENCE INDEX: 2021 QUARTER 4

Mongolian consumers' confidence in the economy increased substantially in the fourth quarter of 2021. The Consumer Confidence Index (CCI) is 22 points higher than the fourth quarter of 2020 and stands at 87. Let's compare the results of the fourth quarter with the last quarter.

The Current Situation Index, computed from the consumers' assessment of current business and labor market conditions, slightly increased from 76 to 78. The Expectation Index that shows consumers' short-term outlook for business, income, and labor market conditions largely increased from 81 to 103.

In the fourth quarter, consumer assessment of the current economic situation and the outlook for the economy for six months became more optimistic than the third quarter. The slowdown in the spread of COVID-19 in Mongolia has elevated consumers' expectations.

Note: Consumer Confidence Indices are seasonally adjusted and adjusted to indices of 2018 (Индекс 2018=100).

Current economic situation

Consumers' appraisal of the business condition has deteriorated. 4.4 percent of consumers said business conditions are "good," up by 1.1 percentage points. 63.5 percent of consumers said business conditions were "bad," up by 5.7 percentage points. Consumers' assessment of the labor market has deteriorated. 21.1 percent said jobs are "plentiful," which is 3.7 percentage points lower than the previous quarter. 36.1 percent of consumers said jobs are "hard to get," which is almost at the same level in previous quarter.

Expectations for the future in six months

Consumers' expectations in the near future are improved. 24.2 percent of consumers believe that business conditions will be "good" in the near future, which is 10 points higher than the previous quarter, and 24 percent think that business conditions will be "bad" in the near future, 1.6 points lower than the previous quarter. 21.1 percent of consumers believe that job availability will improve, up by 7.5 percentage points, while 14.1 percent believe that it will worsen, which is down by 2.1 percentage points. 21.6 percent of consumers think that revenue will increase, which is up by 6.4 points, and 12.1 percent think that revenue will decrease, down by 1.5 points.