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Egypt’s consumers upbeat about future despite concerns over terrorism

Saturday, February 22, 2014 10:36
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(Before It's News)

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). =

________________________________________
IMRA – Independent Media Review and Analysis

Since 1992 providing news and analysis on the Middle East with a focus on A=
rab-Israeli relations

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Source: http://www.imra.org.il/story.php3?id=63259

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