Consumer confidence in economy rises 11.9%

A survey by the Cabinet’s Center for Information and Decision Support showed an 11.9 percent rise in the index measuring consumer confidence in the national economy in January 2014.
The index scored 112.8 points compared to 100.8 points in December 2013.
The report attributed the rise to an improvement in family incomes, which raised confidence levels in the government’s economic policies.
Family income levels went up in January 2014 by 23 percent to 62.7 points compared to 50.9 points in December 2013, according to the report.
Also, the index measuring expectations for improved family living conditions went up by 9.7 percent to hit 181.7 points in January 2014, compared to 165.7 points in December 2013. In the report, 49.5 percent of the survey participants expected more job opportunities in the future, compared with 45.2 percent in December 2013.
The report also showed that the age group of 50 years and the already employed, especially in private businesses, were the most optimistic about improved economic conditions.
Edited translation from MENA

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