Pakistan Consumer Morale Weakens from 5-Month High

The consumer confidence indicator in Pakistan declined to 40.2 in December 2025, down from 41.0 in the previous month, which was the highest level in five months. Sentiment weakened regarding current economic conditions (40.8 vs 41.2 in November), expected economic conditions (39.6 vs 40.7), the perceived suitability of purchasing durable goods (34.2 vs 36.3), and expectations for future income (45.5 vs 47.6). Also, concerns about unemployment over the next six months accelerated (70.7 vs 69.2). However, consumers' expectations over households' financial conditions improved (45.6 vs 44.1%). Meanwhile, inflation expectations declined (18.9 vs 20.0).

The consumer confidence indicator in Pakistan rose to 40.0 in October 2025, up from 37.7 in the previous month, which was the lowest level in 10 months. Sentiment improved regarding current economic conditions (40.6 vs 37.5 in September), expected economic conditions (39.4 vs 37.8), and the perceived suitability of purchasing durable goods (35.0 vs 33.7). However, consumer expectations for future income weakened (45.8 vs 49.0). Also, concerns about unemployment over the next six months accelerated (70.5 vs. 70.1). Meanwhile, inflation expectations declined (21.2 vs 22.5), with higher consumers expecting higher prices were unchanged (at 70.0).

The consumer confidence indicator in Pakistan rose to 40.6 in April 2025, up from 40.4 in the previous month, marking the highest level since June 2024. Sentiment improved regarding current economic conditions (41.3 vs. 40.3 in March), expected income (53.8 vs 52.3), and the perceived suitability of purchasing durable goods (36.0 vs 35.1). However, consumer expectations for future economic conditions weakened slightly (39.9 vs. 40.5). Additionally, concerns about unemployment over the next six months eased (69.4 vs. 70.2), and inflation expectations also declined (66.6 vs. 67.0), driven by lower anticipated inflation for food (66.0 vs. 66.9) and energy (65.3 vs. 68.6).