FINANCIAL NEWS

UAE consumer optimism declining

23 May 2012

(MENAFN) The latest MasterCard survey on the Middle East consumer confidence showed that during last year’s second half, UAE consumers’ confidence fell to 82.1, compared with 92.2 in the first half, reported Emirates 24/7.

The survey, which gauges consumer confidence on general expectations in the market over the coming 6 months, based on 5 economic indicators: quality of life, regular income, economy, employment and stock market, revealed that sentiment on all indicators went down, with confidence in the quality of life dropping to 89.3 from 93.6, whereas it fell to 85.7 from 93.8 in regular income.

Moreover, confidence in the economy declined to 84.4 from 93.7, and went down to 82.2 from 91.4 in employment, while confidence in the stock market dived to 69.0 from 92.1.

On the other hand, consumer confidence in the Middle East grew to 85.7 from 82.8 in the previous 6 months, recording the highest level since the launch of the Index in the region in 2004.

It is worth noting that the MasterCard Worldwide Index of Consumer Confidence’s score is calculated with 0 as the most pessimistic, 50 as neutral and 100 as the most optimistic.

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