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UAE: Ajman Consumer Sentiment Index rises in 2023, exceeding global average

Middle East | February 28, 2024 5:26:29 AM IST
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Abu Dhabi [UAE[, February 28 (ANI/WAM): The Ajman Consumer Sentiment Index (CSI) for 2023 has recorded an increase of 131 points, exceeding the global average of 100 points.

According to a report by the Ajman Department of Economic Development, this finding indicates that consumers in the emirate are more optimistic about the economic outlook than consumers in most other countries.

Sheikh Ahmed bin Humaid Al Nuaimi, the Representative of the Ruler of Ajman for Administrative and Financial Affairs, Chairman of the Department of Economic Development in Ajman, said: "The strong showing of 131 points on the 2023 Consumer Sentiment Index reflects widespread optimism in the local economy. This optimistic sentiment is expected to translate into increased consumer spending, driving demand for financing and investment, and ultimately fueling economic growth."

He attributed this to the comprehensive and balanced economic policies at the country and emirate levels in achieving a leading regional and global position that has enhanced the aspirations of consumers and investors alike.

The index result is also an incentive for the government, decision-makers and policymakers to make more efforts and initiatives that support the economic and investment environment in the emirate, enhance the confidence of the business community, and provide a decent life for all residents of the emirate, he added.

The CSI is a survey-based measure of consumer confidence. It is conducted by asking consumers about their expectations for the future of the economy, their personal finances, and their willingness to make major purchases. (ANI/WAM)