Confidence level shows largest rebound in UAE

Confidence level in the UAE showed the largest rebound across the Asia-Pacific Middle East and Africa markets (Apmea), according to MasterCard Worldwide index of consumer confidence.

The UAE is also now the second most optimistic country in the Middle East and Levant and the third most optimistic in Apmea, the index shows

The latest findings of the overall robust rebound in consumer confidence in the region mirrors progress seen in the real economy, the survey, which is conducted twice a year, showed.

The UAE, which was the most pessimistic in the Middle East last year, scored 86.1, up from the 29.6, leapfrogging by 56.5 points in the past six months. Qatar ranks the highest with 89.2 up from 71.4 in the previous survey.

"Confidence has rebounded in the second half of 2009 in both Dubai and Abu Dhabi, higher than that of Middle East average. Compared to first half of 2009, the UAE residents are more optimistic on personal front as well as their perceptions about the economy," it said.

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