UAE fourth in consumer faith.
The UAE's consumer confidence level climbed four points in the third quarter as the Emirates reinforced its position as the only country in the Middle East to be ranked among the top five countries in the world with the most bullish sentiments, according to a new Nielsen survey.
The UAE also decisively enhanced its global ranking to fourth position from seventh in the previous quarter with a score of 111, up four points on the previous quarter's 107, while Saudi Arabia slipped from the 10th rank it scored in the second quarter.
Among the world's top five, the UAE is the only country that could critically raise its score.
Indonesia, with a score of 120, remained the most bullish consumer market worldwide, although it scored four points less.
The Philippines (118) and India, as in the previous quarter, came second and third, respectively, but confidence levels in those two emerging markets dipped. The consumer confidence score in India in the third quarter was at 112 compared with 118 in the previous quarter. Brazil also witnessed a fall in confidence level.
Consumer confidence in Hong Kong, which shared with the seventh position with the UAE in the second quarter, also suffered a setback by dropping one point to 106.
The latest rankings showed that global consumer confidence remained almost as buoyant as in the second quarter.
"Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism," Nielsen said in a statement.
As per the survey, 76 per cent of online respondents indicated that India is going through an economic recession this quarter, up 25 percentage points from last quarter (51 per cent).
The Nielsen Global Survey of Consumer Confidence and Spending Intentions, established in 2005, measures consumer confidence, major concerns, and spending intentions among more than 30,000 respondents with Internet access in 60 countries.
In the latest round of the survey, conducted between August 14 and September 6, consumer confidence increased in more than half (57 per cent) of global markets measured by Nielsen, compared to 45 percent in the previous quarter.
As per the survey, optimism over job prospects has dropped to 63 percent this quarter, from 72 percent last quarter. Job security is also the biggest concern for Indian online respondents, the survey said.- firstname.lastname@example.org
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|Publication:||Khaleej Times (Dubai, United Arab Emirates)|
|Date:||Oct 31, 2013|
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