Consumers increasingly trust Abu Dhabi
The general consumer confidence in economic performance index for the Emirate of Abu Dhabi in the first quarter of 2013 hiked by 2 points, up from 126 for the same period of 2012, an index by Studies Directory of the Department of Economic Development showed.
The index showed that 2012 registered about 125 points on average compared to 118 points in 2011, a rise by 7 points.
Mohammad Ameerah, an economist at Sharjah Chamber of Commerce and Industry, said that the index reflects high expectations of individuals in general.
“The economic growth of the UAE economy which is expected to be more than 4 per cent this year is behind this optimism and we expect further positive figures throughout this year,” said Ameerah.
He said the development in the UAE will lead to further growth rates which will result in more job opportunities.
More confidence in public policies
The index revealed that confidence in government policies during March 2013 increased to 115 points compared to 113 points in February 2013, reflecting the rise of optimism among individuals in different age groups, educational levels and nationalities.
It showed that confidence is rising in both current and future economic conditions, individuals financial condition and government policies.
The indicator showed that the government of Abu Dhabi is interested in providing decent life for all citizens and residents of the Emirate, with upbeat at its highest levels amongst individuals who expect further jobs in the coming three months.
The index revealed continued improvement in the future expectations amongst non-citizens who showed more optimism about the future of Abu Dhabi’s economy.
- Talk about 'diversification': Oman aims to become a primary destination for Indian weddings
- What Gaza, what Syria? Ramadan full of glitz for retailers
- Going after their daily bread: is Egypt's food subsidy reform all about getting Egyptians to eat less bread?
- Overtaking Oxford Street and the Champs Elysee? Dubai's upcoming Mall of the World and what it means for the country's prospects
- The economics of Ramadan: from piety to commercialization and excessive consumption
- Optimism for Abu Dhabi as "Consumer Confidence" grows
- Banks, stocks drive Abu Dhabi economy up in Q1
- Rising rents to take their toll on UAE consumer confidence
- A good year for Qatar: Construction industry's business optimism at a three-year high
- UAE's sunny disposition! The Emirate state makes world's top ten for consumer confidence