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Great Consumer Expectations
Study says consumer confidence is rising and people are optimistic about the economy, but job prospects stay sombre and the cost of living remains high.
April 14, 2011 3:27 by Precious de Leon
Running alongside the CCI, the Consumer Expectations Index (CEI) was also conducted, focusing on the consumer’s levels of optimism for the future. In it, the UAE recorded an increase of 5.7 points since the last quarter with Morocco reporting a slight decrease of 0.1 points.
On the whole, a majority 48 percent believe their personal financial position will be better next year (Here’s hoping). By contrast, just 6 percent believe that their financial position will become worse.
In the UAE, 53 percent believe that their personal finances will be better a year from now, compared to just 5 percent that believe they will become worse. Most optimistic that their personal financial position will be better in a year’s time are respondents in Oman and KSA with 56 percent confirming this statement.
Respondents also remain largely optimistic that their country’s economy will be better in a year’s time. Overall, 51 percent say that their country’s economy will be better, 17 percent say it will remain the same, and 12 percent say it will become worse.
Respondents in Oman are the most positive about the expected improvements in their country’s economy, with 67 percent stating things will be better. Respondents in Lebanon are most pessimistic about their country’s economy a year from now; 32 percent say that it will become worse. In the UAE, 54 percent of respondents believe that their country’s economy will be better in a year’s time, compared to just 11 percent believing it will be worse.