Dun & Bradstreet Pakistan and Gallup Pakistan have released the 19th edition of the Pakistan Consumer Confidence Index (CCI) for the first quarter of FY2025–26. The findings show a measured decline in overall consumer confidence, which eased to 86.4 from 96.2 in the previous quarter, representing a decrease of 10.2 per cent. Despite the quarterly dip, confidence remains 18.5 per cent higher year on year, indicating sustained improvement compared to the same period last year.

The CCI measures consumer sentiment regarding the economy and personal financial conditions. It is based on four key parameters: household financial situation, national economic conditions, unemployment and household savings. The index captures both assessments of the past six months and expectations for the next six months.

The report notes that both current sentiment and future outlook weakened during the quarter. Current confidence declined sharply to 74.7 from 88 in the previous quarter, reflecting growing concerns about present economic conditions. Future confidence eased to 98.2 from 104.3, pointing to cautious optimism for the months ahead.

Optimism around household finances remains relatively resilient, with nearly 62 per cent of respondents expecting their financial situation to improve or remain stable over the next six months. Inflation continues to dominate consumer concerns, however, as more than 84 per cent of respondents reported an increase in the prices of essential items over the past six months. Unemployment also remains a critical challenge, with a net indicator of 56.5 reflecting persistent labour market strain.

Perceptions of Pakistan’s overall economic situation weakened during the quarter, with the relevant index falling from 100.8 to 92.5. Fewer respondents expect improvement over the next six months, indicating rising concern over near-term recovery prospects.

Commenting on the findings, Bilal I. Gilani, Executive Director at Gallup Pakistan, said the decline in confidence reflected ongoing inflationary pressures and weak job sentiment. “People are less upbeat about the present but still expect the future to be better. This suggests that stability has helped, but without meaningful economic growth, consumer sentiment is unlikely to improve significantly. People are waiting for jobs and incomes to grow before they fully believe in a recovery,” he said.

Zubair Qureshi, Chief Business Officer at Dun & Bradstreet Pakistan, said the index remains a vital indicator of market sentiment. “While short-term challenges persist this quarter, resilience in household financial expectations suggests that businesses can align their strategies with evolving consumer priorities,” he said.

The report also records a decline in confidence across all demographic segments. Urban respondents registered a 24 per cent decrease, while rural respondents recorded a decline of 21 per cent. The sharpest drop was observed among individuals aged 30 to 49 years, whose confidence fell by 27 per cent. Respondents under 30 showed relatively greater stability, with a decrease of 17 per cent.

About the survey
The survey was conducted telephonically among 2,132 respondents between September and October 2025. It carries a margin of error of plus or minus 2.2 per cent at a 95 per cent confidence level. Despite near-term pressures, the findings suggest continued resilience in expectations around future household finances.

About Dun & Bradstreet Pakistan
Dun & Bradstreet Pakistan is part of the Dun & Bradstreet Worldwide Network. Dun & Bradstreet is a global leader in data and analytics, supporting informed business decision-making. Through advanced business intelligence and comprehensive solutions, the company enables organisations to mitigate risk, enhance performance and accelerate growth.

Founded in 1841, Dun & Bradstreet has served as a trusted partner for businesses of all sizes, helping them manage risk and identify opportunities through reliable data and analytics.

For further information, visit www.dnbpk.com or www.gallup.com.pk.

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