Consumers concerned over economy and jobs

MIER said the continuing threat of the Covid-19 pandemic has likely zapped consumers’ confidence and cut into their buying power, amid challenging labour market conditions.

PETALING JAYA: Consumers are increasingly worried about their income and job security as the Covid-19 pandemic continues, further straining their confidence, according to a survey by the Malaysian Institute of Economic Research (MIER).

According to MIER’s Consumer Sentiments Index (CSI) for the fourth quarter (Q4) 2020, household finances at the year-end were the weakest in nine months, as lost wealth hit those in the low income, rural areas and south the hardest.