Cabinet think tank: Consumer confidence up

Cabinet think tank: Consumer confidence up

On

Thu, 21/02/2013 - 19:00

The Cabinet’s think tank released a report Thursday showing consumer confidence is on the rise.  

According to the Information and Decision Support Center, the index measuring consumer expectations of improved living conditions went up 4.9 percent in January versus December.

Meanwhile, the index measuring economic policy confidence jumped 19.3 percent.

The news comes as foreign reserves slumped to just over US$13 billion in January and the country strives to fill a funding gap of up to LE200 billion this fiscal year.

The center’s report also revealed the index representing family incomes had dropped 11.3 percent during the same period, which it attributed to a decline in durable goods purchases.

Those between 30 and 50 years old were 15 percent more optimistic than other age groups surveyed, with particularly emphasis on government employees.

Edited translation from MENA