Posted by Neil King
The UAE saw the biggest increase in consumer confidence among the Gulf countries during the first quarter of this year, it has been revealed.
A survey by Bayt.com and YouGov Siraj found that the UAE moved up 4.4 points on its consumer confidence index, which compared sentiment with that seen in the final quarter of last year, Dow Jones Newswires reported.
The UAE was followed by Bahrain, which saw a 1.9 point increase and Kuwait, with a 0.9 rise.
Confidence measurements were based on consumer expectations and economic satisfaction in areas like inflation, job opportunities and living costs.
The survey, which covered countries across the Middle East and North Africa, found that 41 per cent of respondents believed their country's economy will be better off in a year's time, while 21 per cent expected it to remain the same.
Last week, economic minister Ahmed Bin Abdul Aziz Al Shihhi argued that the continued growth of the UAE's private sector during the global downturn was evidence of the fundamental strength of the country's economy.