Consumer confidence in UAE remains stable

DUBAI — Consumer confidence appears to be stable in the UAE with the Consumer Confidence Index increasing slightly by 0.5 points since last June, according to data for the September 2010 CCI Survey released on Tuesday.

By Staff Report

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Published: Wed 29 Sep 2010, 11:25 PM

Last updated: Mon 6 Apr 2015, 11:55 AM

The CCI is a quarterly survey conducted by Bayt.com in conjunction with research specialists YouGov Siraj.

The slight increase in consumer confidence in the UAE follows the drop felt at the end of last year. The increase, though, was the lowest increase recorded across all countries since June 2010.

The highest increase in CCI was seen by Kuwait with an impressive rise of 6.3 points.

Thirty five per cent of the region’s respondents say their financial position is the same as last year and just over a quarter, 27 per cent, say it has gotten better than in the same period last year.

In the UAE, 24 per cent say they are better off than last year, 36 per cent say they are in the same position as last year and 33 per cent say they are in a worse position than last year.

The UAE remained relatively stable reporting only a slight decrease of 1.7 points in the Consumer Expectations Index since the last quarter. Overall, 48 per cent of respondents believe that their personal financial position will be better next year. Just eight per cent of the region’s respondents believe that their financial position will become worse.

In the UAE, 47 per cent of respondents believe that their personal finances will be better a year from now, compared to just 11 per cent that believe they will become worse.

Most optimistic that their personal financial position will be better in a year’s time are respondents in Qatar with 53 per cent confirming this statement.

Respondents also remain largely optimistic that their country’s economy will be better in a year’s time. Overall, 36 per cent say that their country’s economy will be better, 21 per cent say it will remain the same, and 24 per cent say it will become worse.

In the UAE, 43 per cent of respondents believe that their country’s economy will be better in a year’s time, compared to just 18 per cent that believe it will be worse.

Respondents in Oman and Kuwait are the most positive about the expected improvements in their country’s economy.

The UAE remained stable moving up the Propensity to Consume Index by just 0.1 points compared to the previous quarter.

The respondents largely agree that they will not invest in property. Within the UAE, 67 per cent say they will not be buying any property. Of those wishing to purchase a property, 63 per cent say they are likely to opt for a new property.

The Employee Confidence Index measures the attitudes of respondents to the local job market, in terms of their satisfaction towards the availability of jobs and their satisfaction with their salary. The UAE saw a rise of 1.9 index points versus the previous quarter on this measure.

· business@khaleejtimes.com



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