UAE consumer confidence lowest in Gulf; jobs, finances among top concerns | ZAWYA MENA Edition:
Consumer confidence in the UAE has fallen to its lowest level since the 2009 global recession, owing to declining sentiments towards personal finances, as well as employment and economic prospects, according to a new survey.
The country’s consumer confidence index, which tracks how people feel about the economy, among other categories, fell to 92 points in the second quarter of this year, the lowest since the last quarter of 2009.
“Consumers in [the] United Arab Emirates… are among the least optimistic in the region… The UAE consumer confidence index fell below the 100 optimistic mark,” the Conference Board Gulf Center for Economics and Business Research said in a new report.
The board has recently released the Global Consumer Confidence Index for the Gulf region, which was based on a poll conducted in May 2020 among more than 33,000 consumers in 68 markets, including the Middle East, Europe, Africa, Asia-Pacific, Latin America and North America.
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