Saudi Arabia ranked second globally in Consumer Confidence Index

The index result reflects the high confidence of the Saudi consumer in the national economy, optimism

  
A view of the city of Riyadh in Saudi Arabia, December 18, 2017. Image used for illustrative purpose.

A view of the city of Riyadh in Saudi Arabia, December 18, 2017. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser

Saudi Arabia is ranked second world-wide in the Global Ipsos Consumer Confidence Index for March 2021, which measures the current and future status of 23 global markets.

Saudi Arabia scored 61.4 points in the Ipsos consumer confidence index,  which is 15.7 points higher than the global average of 45.7 points. The kingdom was ranked after China and was ahead of Sweden, India, Australia, the USA, Germany, Britain, Canada, Belgium, France.

The survey takes into consideration economic indicators such as trends in the local economy, investment environment in the country, personal financial capabilities of consumers, and general job security.

According to Saudi Press Agency, the index result reflects the high confidence of the Saudi consumer in the national economy, optimism, its positive outlook, procurement process and the intentions of spending and investment.

(Writing by Seban Scaria; editing by Daniel Luiz)

(seban.scaria@refinitiv.com)

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© ZAWYA 2021

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