Ipsos’ Jordan Consumer Sentiment Index (June 2020)

"Ipsos Jordan"

Reviving the Economy and Protecting Livelihoods tops Jordanians’ List of Priorities as Concern Regarding the Containment of the Pandemic Subsides

  • Ipsos’ Jordanian Consumer Sentiment Index Reaches its Lowest Levels in the Second Quarter of 2020
  • 1 in 2 of those employed suffered a reduction in pay following the impact of COVID-19 and 9% were made redundant.

Amman, August 2020 – As Jordanians continue to feel the economic impact of the lockdown imposed following the COVID19 crisis, Ipsos’ Jordan Consumer sentiment Index (JCSI) experienced a 5-point drop, reaching its lowest levels in the second quarter of 2020.

The gradual reopening of economic activity did not bring about reassurance regarding the state of the economy, but rather, as people resumed work and tried to acclimate to the new “Normal”, the economic impact of the previous months was clearly felt. In fact, 3 in 5 Jordanians believe that the state of the economy is weak – a considerable drop when compared to last quarter.

As the pandemic continues to wreak havoc worldwide, bleak sentiments towards the future were mirrored across most of the countries included in the survey. Globally, confidence towards job security was amongst the most impacted indices, with Jordanians exhibiting similar sentiments. While the government imposed various measures that aim to maintain job security, the vast majority of Jordanians have witnessed firsthand the heat of diminishing job security.  In fact, 7 in 10 mentioned that they themselves or someone they knew have lost their livelihood as a result of the economic crisis and 1 in 2 of those employed witnessing a reduction in pay.

“With the number of cases subsiding towards the end of the second quarter and the country experiencing a temporary period of calm, Jordanians no longer felt the looming threat of the pandemic, with the majority believing that the pandemic will be short-lived,” said Saif Nimry, Managing Director of Ipsos in Jordan and Iraq. “However, amidst the current increase in cases, striking a balance between protecting Jordanians’ lives and their livelihoods will continue to be the governments biggest challenge in the months to come, with the results of this quarter’s index clearly showing that Jordanians are in favor of reviving the economy as opposed to reverting back to strict lockdown measures. ”

Ipsos’ JCSI quarterly result is driven by the aggregation of four weighted sub-indices relating to current personal financial conditions, economic expectations, investment climate, and employment confidence, all of which contribute to JCSI being a key predictor of general consumption & investment trends in the Jordanian market.

 

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