Karachi: The State Bank of Pakistan (SBP) recently shared a survey link on its official WhatsApp channel, sparking questions about its methodology. The survey included questions from the central bank’s monthly Consumer Confidence Survey, which assesses economic sentiment among individuals and businesses.
The SBP typically conducts the Consumer Confidence Survey through phone interviews, reaching out to a few thousand households in the formal economy. This time, however, the bank opted to share the survey link on its WhatsApp channel. Many believe the shift to WhatsApp could be an attempt to gather a larger sample size quickly and efficiently.
Using WhatsApp and social media allows the central bank to reach more respondents in less time. However, this strategy may introduce a major flaw: sampling bias. Those following the SBP’s WhatsApp channel are likely more engaged in business, finance, or economic affairs, unlike the broader population targeted in traditional surveys.
Sampling Bias Concerns
The SBP’s social media outreach could limit responses to certain demographics. For instance, accessing the WhatsApp survey requires a smartphone, reliable internet, and some financial awareness. This inherently excludes large segments of the population, especially those outside the formal economy or those without internet access.
Some experts warn that this selective reach could skew results, giving an incomplete or biased picture of consumer sentiment. The SBP’s regular phone-based surveys aim to gather diverse opinions from households across various sectors, but including social media responses may alter the outcome.
Sindh Arrests Two Suspects in Karachi Airport Attack Targeting Chinese Nationals
SBP’s Explanation: Not Part of Consumer Confidence Survey
The SBP clarified that the WhatsApp survey was not part of its official Consumer Confidence Survey. According to the central bank, the survey was an “inflation expectations survey” for internal research only. The bank stated that the survey aimed to “assess public reactions to specific questions on inflation.” When asked if results would be published, the SBP responded that it had yet to decide.
This explanation raised further questions. Why was the survey almost identical to the regular Consumer Confidence Survey? Observers speculate that the central bank may be testing social media as a tool to gauge public opinion on economic issues.
Methodology Issues and Public Perception
The methodology used in the SBP’s Consumer Confidence Survey is critical because it directly influences perceptions of the economy’s health. The survey measures public attitudes, buying intentions, and expectations for inflation and interest rates. By shifting partially to WhatsApp, the SBP may risk undermining the survey’s representativeness and accuracy.
Conducted monthly, the Consumer Confidence Survey usually relies on carefully selected phone interviews to gather consistent data from a stable demographic. Adding WhatsApp data could introduce inconsistencies, especially since people on the channel may have greater financial knowledge or stronger opinions on monetary policy than the general population.
Follow Day News on Google News, Instagram, YouTube, Facebook, Whats App, and TikTok for latest updates
