Moroccan household confidence index (HCI) continues to decline from quarter to quarter, falling to 50.1% in Q2 of this year, according to a recent survey from the High Commissioner for Planning (HCP).
In the second quarter of 2022, household morale continued its downward trend to reach its lowest level ever recorded, according to the results of the Permanent Household Business Survey conducted by the HCP.
For the same period, 79.2% of households report a deterioration in their standard of living over the past 12 months, 14.6% report that their standard of living has remained unchanged and 6.2% report an improvement.
Opinions on past changes in living standards remained negative at 73 points, compared to -66.8 points in the previous quarter and -50.8 points in the same quarter last year.
Regarding the evolution of the standard of living over the next 12 months, 46.8% of households expect a deterioration, 40.7% expect it to remain at the same level and 12.5% expect an improvement.
The balance of opinion on this indicator is -34.3 points, a deterioration both in relation to the previous quarter and to the same quarter of the previous year, when it was -21.4 points and 0.2 points respectively.
In the second quarter of 2022, 86% versus 4.9% of households expect unemployment to increase over the next 12 months. The balance of opinion thus remained negative at minus 81.1 points, compared to minus 82.8 points one quarter earlier, and minus 69.8 points one year earlier.
In the second quarter of 2022, 78.9% of households consider that it is not a good time to purchase durable goods, compared to 9.8% who do.
For the same period, 52% of households believe their income covers their expenses, 45.4% report going into debt or saving, and 2.6% say they are saving a portion of their income.
As for the evolution of their financial situation over the past 12 months, 54.3% of households consider that it has deteriorated.
During Q2 of 2022, almost all households (99.2%) say that food prices have increased over the past 12 months, while only a small proportion of households (0.1%) feel that they have decreased.
As for the evolution of food prices over the next 12 months, 77.3% of households expect an increase, 19.7% expect them to remain at the same level and only 3% expect a decrease.
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