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Overwhelming response for consumer confidence survey in Oman.

Muscat: Conducted by the National Centre for Statistics and Information (NCSI) the 4th Consumer Confidence Survey concluded on Thursday. The survey, which ran from December 8-11 received good response from the participants. The sample included 1,200 Omani nationals aged 18 years or older drawn from different governorates and different education levels. With the conclusion of the fourth session, the NCSI ends the consumer confidence surveys for 2014, which were conducted on a quarterly basis. The first survey was conducted in March, the second in June, and the third in September of this year. Recently NCSI detailed the most important results up to the third survey which was conducted in September 2014, with the general consumer confidence index recorded 157 points in the second and third quarters of 2014, a decline of five points when compared with the first quarter rating of 162. This rating ranks highly in comparison to regional and international consumer confidence survey results. Breaking down the survey sub-categories, consumer expectations index reached 185 points in September, the highest among other sub-indexes, reflecting a clear optimism to the future conditions. The recent economic conditions index reached 158 points, while a rank of 130 points was recorded for the household income category in September 2014. The National Centre for Statistics and Information consumer confidence survey is one of the key indicators of economic sentiment and consumer confidence within the Sultanate and the survey aims to measure the satisfaction of Omani citizen on various economic conditions, including employment opportunities, planned investments, state of economic policy and the cost of living, among others. Additionally, the NCSI survey measures the level of optimism or pessimism about the expected change of these conditions for the coming year. The consumer confidence index in the Sultanate of Oman is calculated according to the methodology used by the Survey Research Center at University of Michigan, USA. The general index of consumer confidence is an average of three sub-indices including current economic conditions index, family income level index, and consumer expectations index. The general index of consumer confidence is measured between the ranges of zero to 200. "Zero" reflects pessimism and a complete lack satisfaction, while the value of "200" indicates optimism and the complete satisfaction of a consumer, while the value of 100 reflects neutrality on the question asked.

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Publication:Times of Oman (Muscat, Oman)
Geographic Code:7OMAN
Date:Dec 13, 2014
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