The confidence of Moroccan households slipped in the third quarter of 2025, reflecting persisting unease about the standard of living and purchasing power despite a gradual improvement from last year’s lows.
The Household Confidence Index (HCI) published by Morocco’s statistics office (HCP) fell to 53.6 points from 54.6 in the previous quarter, though it remains above the nearly all-time low of 46.2 last year.
The majority of Moroccans remain pessimistic about their standard of living. Nearly 78% reported a deterioration in their quality of life over the past year, and more than half say they expect a further decline in the next 12 months. Concerns over unemployment persist, although expectations have slightly improved since 2024. 70% of respondents (slightly fewer than last year) anticipate that unemployment will rise.
While perceptions of financial stability are marginally better, only 2.3% of households said they are able to save. Roughly 59% said their income barely covers expenses, and nearly 39% reported relying on debt or savings to make ends meet.
Consumer appetite for major purchases remains weak. Almost 70% of respondents said now is not a good time to buy durable goods, though this is an improvement from earlier this year.
Inflation remains a serious concern. A whopping 96% of households reported higher food prices in the third quarter, and over 80% expect them to rise further.
Despite the index’s improvement, it remains well below pre-pandemic averages, underscoring the challenge for policymakers as they balance fiscal restraint with support for household incomes.
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