Abuja, Nigeria. September 8th, 2014 – The Portfolio of Indices report released by NOIPolls Limited has unveiled that the NOIPolls Personal Well-Being Index (PWBI) increased by 1.8-points to stand at 43.3-points in August 2014. Furthermore, there was a decline in 2 of the indicators that make up the Personal Well-being Index while increases were observed in the remaining 5 indicators. On the other hand, the NOIPolls Consumer Confidence Index for August 2014 declined by 0.5-point to stand at70.7-points. This decline is as a result of the slight decline in one of the indicators that make up the CCI, the Expectation Index (EI) which declined by 0.9-point while the Present Situation Index (PSI) increased by 0.1-point. These are the key highlights from the August 2014Portfolio of Indices Press Release.
In February 2014, NOIPolls Limited introduced its portfolio of indices; the NOIPolls Personal Well-Being Index (PWBI), the NOIPolls Consumer Confidence Index (CCI) and the NOIPolls Eagle 30 Business Confidence Index (EBCI). The NOIPolls Personal Well-Being Index measures factors impacting on the lives of everyday Nigerians; thereby producing a complete view of the individual’s personal well-being. The NOIPolls Consumer Confidence Index provides consumer assessments of the economic situation and their intentions and expectations for the future. The NOIPolls Eagle 30 Business Confidence Index measures business leaders’ perceptions and expectations about the Nigerian business environment using the top 30 companies in the country.
Nigerian businesses, financial and government agencies largely depend on their perceptions and micro assessment of consumers’ expectation in making decisions. At best, they draw conclusion on the business environment based on information from their immediate surroundings while the minority conduct surveys that are time and money consuming. However, the introduction of these indices provides indicators that will ensure stakeholders can detect and respond to changes in consumer behavior, the economy, and the business environment in Nigeria. This report presents the August 2014 results for the NOIPolls Personal Well-Being Index (PWBI) and NOIPolls Consumer Confidence Index (CCI). The NOIPolls Personal Well-Being Index (PWBI) The NOIPolls Personal Well-Being Index for August 2014 increased by 1.8-points to stand at43.3 points. Analysis of the individual indicators that make up the PWBI shows variances in the perception of Nigerians about their accomplishments on several aspects of their lives. Nigerians are most satisfied in terms of Religion (87.8-points) Social Interaction (75.8-points) and Physical Health (73.3-points). In addition, Nigerians are slightly neutral in terms of Achievement in Life (53.5-points), Standard of Living (50-points) and Personal Security (53.0-points). Furthermore, Nigerians are not fulfilled with their Personal Economic Situation (40.4-points); this index remains the lowest ranked indicator since January 2014.
The monthly trend analysis revealed a decline in 2 of the indicators that constitute the Personal Well-being Index while increases were observed in 5 indicators; Standard of Living, Achievements in Life, Personal Security, Social interaction and Economic situation indices with2.7-points, 3.1-points, 3.8-points, 1.8-points and 4.8-points respectively.
More findings from trend analysis show that the NOIPolls Personal Well Being Index experienced a much greater increase of 1.8-points in August 2014. Also, the PWBI average from January 2014 till date is 42.3-points; PWBI for the month of August 2014 is 1-pointabove this average. To read more on NOIPolls Personal Well-Being Index for July, click here
The NOIPolls Consumer Confidence Index (CCI)
The NOIPolls Consumer Confidence Index for August 2014 stood at 70.66 points; a 0.5-pointdecline from July 2014. However, in spite of the slight decline the CCI remains reasonably high implying that Nigerians are positive about their current personal situation and are hopeful about the future.
The NOIPolls Consumer Confidence Index comprises of 2 independent variables; the Present Situation Index (PSI) and Expectation Index (EI). The Present Situation Index is currently at60.5-points showing that Nigerians are somewhat confident with respect to their present personal and economic situation. Similarly, the Expectation Index of 78.3-points shows that consumers are highly hopeful about the future. The PSI increased by 0.1-point while the EI declined by and 0.9-point in August 2014.
Trend analysis reveals that overall the CCI declined by 0.5-point to stand at 70.7-points in the month of August 2014. The CCI average from January 2014 to August 2014 is 73.3-points, therefore CCI for the month of August 2014 is 2.6-points below the average till date.
To read more on NOIPolls Consumer Confidence Index for July, click here
Conclusion
In conclusion, the current poll result has revealed that the NOIPolls Personal Well-Being Index(PWBI) further increased by 1.8-points to stand at 43.3-points in August 2014. Furthermore, there was a decline in 2 of the indicators that make up the Personal Well-being Index while increases were observed in the remaining 5 indicators; Standard of Living, Achievements in Life, Personal Security, Social Interaction and Economic Situation indices with 2.7-points, 3.1-points, 3.8-points, 1.8-points and 4.8-points respectively. More findings revealed that the NOIPolls Consumer Confidence Index for August 2014 declined by 0.5-points to stand at70.7-points. In addition, of the 2 indicators that make up the CCI; the Present Situation Index(PSI) and the Expectation Index (EI), the PSI increased by 0.1-point while the EI declined by0.9-point in August 2014. Survey Methods The Personal Well-Being Index and Consumer Confidence Index Polls were conducted in the month of August 2014. The PWBI involved telephone interviews of a random nationwide sample. 1,000 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed. With a sample of this size, we can say with 95% confidence that the results obtained are statistically precise – within a range of plus or minus 3%. In addition the CCI involved telephone interviews of a random nationwide sample. 4,000randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed. With a sample of this size, we can say with 95% confidence that the results obtained are statistically precise – within a range of plus or minus 2%. NOIPolls Limited, No1 for country specific polling services in West Africa, which works in technical partnership with the Gallup Organisation (USA), to conduct periodic opinion polls and studies on various socio-economic and political issues in Nigeria. More information is available at www.noi-polls.com Disclaimer This press release has been produced by NOIPolls Limited to provide information on all issues which form the subject matter of the document. Kindly note that while we are willing to share results from our polls with the general public, we only request that NOIPolls be acknowledged as author whenever and wherever our poll results are used, cited or published. NOIPolls hereby certifies that all the views expressed in this document accurately reflect its views of respondents surveyed for the poll, and background information is based on information from various sources that it believes are reliable; however, no representation is made that it is accurate or complete. Whilst reasonable care has been taken in preparing this document, no responsibility or liability is accepted for errors or fact or for any views expressed herein by NOIPolls for actions taken as a result of information provided in this report. Any ratings, forecasts, estimates, opinions or views herein constitute a judgment as at the date of this document. If the date of this document is not current, the views and content may not reflect NOIPolls’ current findings and/or thinking. Press Contact The Editor Email: editor@noi-polls.com
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