UAE consumer confidence drops as job concerns rise | GulfNews.com:
"UAE’s consumer confidence index dropped in the second quarter due to declining sentiment over job prospects and personal finances.
The latest Nielsen Consumer Confidence Index showed that the residents’ level of optimism is still highest in the Middle East and Africa region, but it dropped by seven index points from the first quarter to a score of 108. The quarterly decline is the biggest in six years.
Most UAE residents are now not in the mood to spend, with more than two-thirds (70 per cent) saying they are serious about finding ways to cut household spending. Consumers are extra careful not to overspend on clothes, as well as on “take-out” meals."
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