Household confidence improves in Q3-2021

The morale of Moroccan households improved in the third quarter of 2021, with the household confidence index (MCI) standing at 65.5 points, instead of 63 points recorded in the previous quarter and 60.6 points a year previously, according to the High Commission for Planning (HCP). This index, calculated on the basis of seven indicators, four relating to the general situation and three to the specific situation of the household, shows that 59.4% of families declared, in Q3-2021, a deterioration in the standard of living during the last 12 months, 22.7% a maintenance at the same level and 17.9% an improvement, indicates the HCP which has just published a note on the results of the economic survey among households. The balance of opinion on the past evolution of living standards remained negative, at -41.5 points, against -50.8 points in the previous quarter and -35.6 points in the same quarter of last year, specifies the same source. In addition, said note notes that over the next 12 months, 24.4% of households expect a deterioration in the standard of living, 41.8% to maintain it at the same level and 33.8% to an improvement. . The balance of opinion relating to this indicator stands at 9.4 points, thus recording an improvement both compared to Q2-2021 and compared to Q3-2020 where it was at 0.2 point and -17, 4 points respectively. The HCP also reports that 84.2% against 5.9% of households expect unemployment to rise over the next 12 months. The balance of opinion thus remained negative at minus 78.3 points against -69.8 points a quarter earlier and -82 points a year earlier. In addition, the survey reveals that 72.1% against 10.1% of households consider, in Q3-2021, that the time is not opportune to make purchases of durable goods. The balance of opinion for this indicator remained negative with -62 points recording an improvement both compared to the previous quarter and compared to the same quarter of last year when it stood at -65.6 points and at -63.5 points respectively. It also indicates that 55.1% of households believe that their income covers their expenses, 40.7% say they get into debt or dip into their savings and 4.2% say they save part of their income. The balance of opinion on the current financial situation of households remained negative, at -36.5 points against -38 points the previous quarter and -31.5 points a year earlier. As for the evolution of their financial situation over the last 12 months, 53.7% against 5.7% of households consider that it has deteriorated. This perception thus remains negative, with a balance of opinion of -48 points against -50 points in the previous quarter and -34 points in the same quarter of last year. With Map