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Business & Finance

Gallup and Dun & Bradstreet to publish Consumer Confidence Index of Pakistan

The Consumer Confidence Index is to be used as a leading economic indicator for stakeholders across the board.
30 Dec 2019
  • 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.