Consumer confidence down in ME
10 Mar 2012
(MENAFN) Nielsen, the analysis and research firm said that in 2011’s final quarter, consumer confidence in major markets in the Middle East and North Africa (MENA) region has dropped, reported Gulf News.
The firm added that sentiment in Saudi fell by 7 points, to record the steepest decline in the Arab region, followed by Egypt, with a drop of 5 points, whereas consumer confidence in the UAE stayed static at 105.
A score above 100 indicates positive growth, while below 100 is negative.
Moreover, confidence in the MENA region went down by 1 point, while it fell 3 points in Europe at 71 points.
It is worth noting that even though there are a number of issues happening in the region, people’s spending habits were still considered strong, according to David Macadam, head of retail for Middle East and North Africa and regional director at Jones Lang LaSalle.’1