Consumer confidence index in Azerbaijan remains in positive zone
Baku, Azerbaijan, Aug. 13
In June, the consumer confidence index in Azerbaijan remained high by international standards, over 25 points, according to the report on 1H monetary policy prepared by the Central Bank of Azerbaijan (CBA).
In the first quarter of this year, the figure was 26.35 points, while in the third quarter of 2013 - 25.85 points.
Calculation of the index was conducted by a survey of 4,250 businesses.
"With the rise of real incomes, the overall consumer activity has increased in the country. Cash income increased by 3.1 percent, the average monthly wage in real terms increased by 4.9 percent to 438 manat. At the same time, consumers expenditure increased by 14. 3 percent during the year (in the first half of 2013 - by 14.6 percent), "the statement says.
Incomes at the disposal of the population increased by 5 percent and made $ 16.1 billion manats this year. First half of 2014 money income over expenditure advancement growth factor remained at the 1.4 level of last year.
During the first half year of 2014, the total volume of goods and services sold in consumer markets increased by 8.6 percent in comparison with the same period of last year. The volume of retail trade grew by 8.9 percent, including 9 percent growth in the private sector.
Comparing the first halves of 2013 and 2014, the volume of retail trade in food products increased by 2.8 percent (in January-June 2013 grew by 2.7 percent), non-food products retail trade volume increased by 15.5 per cent (20.2 per cent). Paid services rendered to the population increased by 6.9 percent, including non-state ownership by 8.5 percent. 77 percent of paid services fall on the private sector.
The index is a part of the real sector monitoring conducted by the Central Bank of the country. It reflects the total consumer expectations of the population.
In international practice, the consumer confidence index is used in forecasting trends in employment and the general state of the economy.
The official exchange rate for August, 12 is 0.7843 AZN / USD.