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FINANCIAL NEWS
Saudi consumer confidence declines
13 Jul 2010
(MENAFN) Consumer confidence has dropped in Saudi Arabia, the latest Middle East Consumer Confidence Index (CCI) survey conducted by the Middle East?s job site Bayt.com revealed.
The survey, prepared in conjunction with research specialists YouGov Siraj, found that Saudi Arabia?s index recorded a decline of 3.2 index points compared to the last quarter.
The highest decline was recorded by Egypt which saw a drop of 5.5 points, while Lebanon recorded the largest increase of 7.6 index points, following a large drop of 12.1 index points in the last wave.
In the Gulf region, Kuwait, Bahrain and the UAE all dropped in consumer confidence this quarter moving down the index by 4, 1.7and 0.5 index points respectively.
Qatar, however, saw an increase of 1.7 points. In North Africa, while Egypt recorded the largest drop, consumer confidence in Morocco improved by 3.9 index points.
The Consumer Confidence Index (CCI) is a measure of consumer expectations and satisfaction of various elements of the economy including inflation, job opportunities and the cost of living.
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