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Morocco Household Confidence Surges to 57.6 in Q4 2025, Signalling Improving Living Standards

The High Commission for Planning (HCP) released its latest household‑confidence survey showing the Household Confidence Index (ICM) jumped to 57.6 points in Q4 2025, compared with 46.5 points a year earlier. While the overall sentiment remains negative, the gap narrowed, with fewer households reporting a decline in living standards and a modest rise in optimism about employment and durable‑goods purchases. The report also reveals that a majority of families still expect a deterioration in their standard of living over the next twelve months, but the outlook on unemployment and the possibility of buying durable goods has improved compared with previous quarters.

January 23rd, 2026
2 min read
By boursenews.ma

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Overview of the HCP Household‑Confidence Survey

The High Commission for Planning (HCP) reports that the Household Confidence Index (ICM) reached 57.6 points in the fourth quarter of 2025, up from 46.5 points in the same period of 2024.

According to the HCP’s note, the index not only improved compared with the previous quarter but also showed a clear upward trend year‑over‑year.

Living‑standard perception

  • In Q4‑2025, 77.8% of households said their standard of living deteriorated over the past 12 months, down from 5.3% in the prior quarter.
  • The net sentiment (balance of opinion) remains negative at -72.5 points, a slight improvement from -72.9 points in Q3‑2025 and -76.2 points in Q4‑2024.

Looking ahead 12 months, 49.4% expect a further decline, 40.7% anticipate no change, and only 9.9% foresee an improvement.

Unemployment expectations

  • In the same quarter, 65.2% of respondents anticipate higher unemployment over the next year, versus 17.5% in Q4‑2024.
  • The balance for this indicator rose to -47.7 points, better than -56.4 points in the previous quarter and -77.2 points a year earlier.

Durable‑goods purchase sentiment

  • 67.1% of households consider the timing unsuitable for buying durable goods, up from 14.2% in Q4‑2024.
  • The balance improved to -52.9 points from -57.7 points in Q3‑2025 and -71.9 points in Q4‑2024.

Current financial situation

  • In Q4‑2025, 58.4% of families say their income covers their expenses, 39.2% rely on debt or savings, and only 2.4% manage to save part of their income.
  • The net opinion on current household finances stayed negative at -36.6 points, similar to -36.4 points in the previous quarter and -38.9 points a year earlier.

Financial outlook over the past year

  • 48.6% of households reported a deterioration in their financial situation over the last 12 months, compared with 5.1% in the prior quarter.
  • Looking forward, only 16.4% expect an improvement, down from 20.6% previously.

How the ICM is calculated

The index aggregates seven sub‑indicators – four reflecting the overall environment and three focusing on the household’s own situation:

  1. Past evolution of the standard of living
  2. Future outlook on the standard of living
  3. Future outlook on unemployment
  4. Readiness to purchase durable goods
  5. Current household financial situation
  6. Past evolution of household finances
  7. Future evolution of household finances

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