Nigeria has the highest consumer optimism

African Update – 25/11/11

Source: BBC Word service

Nigeria emerged as the country with the highest proportion of consumer optimism among all countries surveyed as part of a 25-nation poll for BBC World Service. On the whole, the economic sentiment in the African countries surveyed - Egypt , Ghana , Kenya , Nigeria - is the most positive overall, compared to other regions. 

The poll of 25,438 people was conducted by GlobeScan between July and September this year. Respondents were asked to say whether they expect good or bad economic times in the next year, and also over the next five years.Globally, consumers in many of the world’s major industrialised economies are pessimistic about economic prospects in their country, while those in emerging economies are much more upbeat.

Nigeria is the country with by far the highest proportion of optimists among all countries surveyed (72%), and the percentage has increased by 11 points since 2010. Respondents from the three other African countries surveyed also have majorities who think their country will experience “good” or “mostly good” times in the year ahead, above the proportions in any other surveyed country: 57% in Egypt , 55% in Kenya , and 53% in Ghana . Like Nigerians, Kenyans and Ghanaians are much more upbeat about economic prospects in their country compared to 2010 (24% more optimists in Kenya , 13% more in Ghana).

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