Nielsen: 72% of Egyptians cut spending in second quarter

A study by global market research company Nielsen has revealed that the Egyptian consumer confidence rate fell from 102 to 92 points in this year’s second quarter, compared to the first quarter.

However, the study detected a spirit of optimism among Egyptian consumers regarding the future, with 52 percent of the sample believing there were enough job opportunities, while 50 percent said their financial condition was acceptable.

The study also said that 52 percent had reduced their spending on mobile phone calls, 52 percent on fast food purchases, 50 percent on entertainment and 45 percent on buying new clothes.

It also revealed that 50 percent believed the country would safely survive the current economic crisis for 12 months.

According to the study, 35 percent of the sample were more interested in political stability, while 28 percent were more interested in the economic situation.

Translated from the Arabic Edition

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