- The Consumer Confidence Index is to be used as a leading economic indicator for stakeholders across the board.
- The MoU was signed by Bilal Ijaz Gilani, Executive Director Gallup Pakistan, and Nauman Lakhani, Country Manager D&B Pakistan.
Gallup and Dun & Bradstreet join hands to publish Consumer Confidence Index (CCI) Gallup Pakistan and Dun & Bradstreet (D&B) Pakistan signed a Memorandum of Understanding (MoU) on cooperation towards creating a publicly available Consumer Confidence Index (CCI), to be released every quarter staring Jan-Mar 2020 .
The MoU signing took place on Monday, December 16th 2019. This MoU was signed by Bilal Ijaz Gilani, Executive Director Gallup Pakistan, and Nauman Lakhani, Country Manager D&B Pakistan.
The MoU is a form of mutual commitment in complimenting each other`s duties and functions in order to develop an index of Pakistani consumers’ economic expectations and preferences.
This Consumer Confidence Index is to be used as a leading economic indicator for stakeholders across the board. Gallup Pakistan, the Pakistani affiliate of Gallup International, has been working in the field of social research in the country for the past 40 years.
With an expertise in public opinion and data collection, Gallup will be using its business acumen and technical know-how towards developing and implementing the very basic research methodology that will be used for collecting consumer opinions.
Dun & Bradstreet, with a global presence for over 178 years, is the world’s leading source of business information and insights. The company possesses more than 350 million business records worldwide. With a global expertise in data analytics and visualization, D&B, which recently started its operations in Pakistan, will be using its understanding of data dynamics for the development of the index and for reporting findings.
Bilal Gilani added “Consumer Confidence Index is considered a crucial barometer of present and future economic situation in any country. Pakistan is poised to be a growth leader in South Asia and MENA with its youthful population and ever rising improved standing in Ease of Doing Business and other indices. Bringing CCI to Pakistan to us is, in this context, an important milestone in assisting Pakistan's growth phase.
“CCI will provide important business intelligence to not only large and small firms alike but also provide crucial evaluation/ score card of successes and misses of government policies. Both Gallup and D&B are international brands in data analytics industry and a synergy between the two organizations is a proud moment for Pakistan.”
Nauman Lakhani was also of the opinion that “We are proud to partner with Gallup to publish the Consumer Confidence Index in Pakistan. This relationship is a natural synergy between two global powerhouses and we look forward to working together on other such important matters in the coming years. The index is an important indicator globally and will be paramount in gauging consumer confidence in Pakistan as well.
"Additionally, we aim for the CCI to become a leading indicator of economic performance, based in consumer spending patterns with the premise that higher consumer confidence leads to more economic activity and stronger economic growth.”
The MoU details the framework for cooperationin line with the strengths and expertise of the two entities.