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Wed 18 Jun 2008 12:24 PM

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UAE consumers top confidence index

Consumers from the UAE ranked fifth in world confidence index, Nielson Company survey finds.

The UAE has the world’s fifth highest level of consumer confidence according to an index produced by the Nielson Company, a global information and media firm.

The Gulf state was placed fifth behind Denmark in the biannual Consumer Confidence Index, released on Wednesday, which tracked over 28,000 respondents in 51 countries.

Norway topped the list as the country with the most consumer confidence followed by India and Indonesia.

Inflation and fears over the possibility of falling real estate prices were the biggest concerns for consumer in the UAE, according to the report.

“Inflation is a concern in the UAE but the economy remains buoyant, in stark contrast to the US which has seen a 17 point fall in its Consumer Confidence Index,” Nielson’s regional managing director Piyush Mathur told reporters.

While the rest of the world recorded dismal results in the survey, UAE consumers are confident about job prospects, the state of personal finances and a willingness to spend, according to the survey.

Consumer confidence was lowest in the US, New Zealand and Latvia, the index said.

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