Consumers concerned over economy and jobs

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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.Meanwhile, an all-time low of only 8% saw an increase in job opportunities.“At 85.2, the latest MIER CSI had lost 6.3 points on the quarter, with all components that comprised the index registering lower this quarter, especially current finances. “Not…