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Egypt’s consumers upbeat about future despite concerns over terrorism
Egypt’s consumers upbeat about future despite concerns over terrorism and =
political unrest: Nielsen
Nielsen Global Survey illustrates current concern and future optimism with =
regard to economy
Ahram Online, Friday 21 Feb 2014
http://english.ahram.org.eg/NewsContent/3/12/94877/Business/Economy/Egypts-=
consumers-upbeat-about-future-despite-conce.aspx
The latest Nielsen Global Survey of Consumer Confidence showed that 86 =
percent of Egyptian respondents believed their country was in an economic =
recession in Q4 2013, the 9th highest level of recessionary sentiment =
worldwide.
According to Nielsen, Egyptians consumers are the most concerned in the =
world about political stability. Twenty-one percent of Egyptians are worrie=
d =
about terrorism; placing Egypt as the most worried about terrorism globally =
despite the fact that this is an improvement from 26 percent in Q3.
Nielsen Managing Director for Egypt and Levant, Tamer El-Araby commented on =
fluctuations and general concern, stating that “The Egyptian Consumer =
Confidence Index keeps fluctuating from one quarter to another due to the =
emotional and spontaneous responses to the on-going events and challenges. =
The long duration of instability and the rise of terrorism have definitely =
negatively impacted the general sentiments of Egyptians.=94
During the period between October and December, Egypt saw hundreds dead and =
injured in the wake of the crackdown on the Muslim Brotherhood following th=
e =
ouster of President Mohamed Morsi in July.
Oil-rich Gulf state, The United Arab Emirates was first in the Middle East =
and Africa in terms of consumer confidence and was followed by Saudi Arabia =
(101 points), Pakistan (97 points) and South Africa (86 points).
Despite its negative sentiment, Egyptians were also among the most =
optimistic across the 60 countries surveyed in the Nielsen report, believin=
g =
that their country will be out of the economic stagnation within a year.
=93Egyptian=92s faith for a better tomorrow is big. Despite challenges, the =
country is moving ahead with high level of optimism and dedication,=94 =
commented El-Araby.
In January, Egypt’s consumer confidence index rose with respect to the =
previous month, according to data released Sunday from the Egyptian =
cabinet’s think tank, the Information and Decision Support Centre (IDSC). =
________________________________________
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Source: http://www.imra.org.il/story.php3?id=63259
