Saudi, UAE consumers among most confident

Saudi Arabia and the UAE were named among the world’s top 10 countries for consumer confidence in the second quarter of 2012, local website Arabian business.com reported citing the Nielsen Global Consumer Confidence Index.
 
Although Saudi Arabia’s consumer confidence fell to 115 points, the kingdom is still ranked fourth in the world and UAE is ranked sixth. Indonesia topped the confidence index, the report said.

The Nielsen Global Consumer Confidence Index serves as a global provider of information and insights into what consumers watch and buy.

Indonesia's move to top spot in the survey showed that the country, with its big domestic economy and a growing middle class, is weathering the global slowdown better than some other emerging markets, the report added.
 
In Egypt, which elected a new president last month in its first free elections, consumer sentiment leapt 6 points, pushing Egyptians into the top 10 most optimistic consumers globally.

The index showed that global consumer confidence dipped in the second quarter from the previous three months.

Consumer confidence fell across major emerging economies China, India and Brazil in the second quarter.

A worsening euro zone crisis, sluggish US jobs growth and slowing growth in China and India combined to dent consumer confidence globally in the second quarter with concern over the economic outlook and job security the biggest concerns.

The survey was conducted between May 4 and 21 and covered more than 28,000 consumers polled on the Internet across 56 markets.


Top 10 countries in the Nielsen Global Consumer Confidence Index

1.    Indonesia

2.    India

3.    Philippines

4.    Saudi Arabia

5.    Malaysia

6.    UAE

7.    Brazil

8.    China

9.    Hong Kong/Thailand

10.    Egypt