Personal finance, job prospects boost Dubai consumer confidence

DUBAI — Overall consumer confidence in Dubai remained robust during the first quarter of 2012, driven largely by a positive outlook on personal finance and strong optimism on job prospects, according to the quarterly Consumer Confidence Index, or CCI, published by the Department of Economic Development.

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Published: Wed 18 Apr 2012, 10:47 PM

Last updated: Tue 7 Apr 2015, 11:15 AM

Personal finance, job prospects boost Dubai consumer confidence

DUBAI — Overall consumer confidence in Dubai remained robust during the first quarter of 2012, driven largely by a positive outlook on personal finance and strong optimism on job prospects, according to the quarterly Consumer Confidence Index, or CCI, published by the Department of Economic Development.

Indicating that Dubai and its economy continues to invoke positive sentiment and trust among investors, CCI remained at a higher than average level of 124 percentage points during the first three months of the year.

The CCI is the result of quarterly consumer confidence surveys based on three questions regarding perceptions on local job prospects, personal finances and suitability of making purchases, all over the next 12 months.

The Index showed that personal finance looks strong with 79 per cent consumers having a positive outlook currently and for the next 12 months, while 66 per cent feel this is a good time to buy things they want and need. Improvement in current job prospects is also anticipated with 66 per cent of the consumers being optimistic that the job situation will improve in next 12 months.

Those working in private sector are more positive in their outlook with 66 per cent optimistic about the current job and 77 per cent about personal finance, while among government employees 68 per cent are optimistic about their current job and 89 per cent about personal finance. Perceptions on the state of economy also showed a clear improvement during Q1 of 2012 with 67 per cent of the consumers expressing positive outlook for the coming 12 months. “DED is keen to provide realistic information on the economic, trade and retail trends in Dubai based on extensive field studies conducted among all groups of people as well as businesses and organisations in the public and private sectors. The CCI is based on true perceptions on the current employment opportunities, personal and financial conditions, and the consumer’s assessment of whether the time is suitable to make major purchases currently and over the next 12 months,” said Sami Al Qami, director general of DED.

business@khaleejtimes.com



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