(MENAFN- Muscat Daily) The National Center for Statistics and Information (NCSI) will conduct a survey on the confidence of consumers, together with their expectations on the financial and economic outlook.
According to a bulletin, the survey will also highlight the buying and investment intentions of the target group, in addition to views on employment opportunities, wages and the job market in general. 'Once the survey is completed and data tabulated, the results will provide indicators of consumers' confidence in the economy, and can be used within a global framework to summarise trends of projected economic growth in the short term.'
The Consumer Confidence Survey is part of NCSI's commitment to use scientific research methodologies to provide reliable statistical data, indicators and publications for the public, and to update concerned authorities and decision makers with the latest statistics and information.
The survey will begin on March 2 and will continue for ten days. A sample of 1,200 Omani nationals aged 18 years or older will receive phone calls from NCSI representatives to answer questions about the financial and economic status of their respective families, their spending and investment aspirations and capability, their views on the national economy in terms of employment trends, wages, prices, household spending power and inflation. The entire interview process will take less than ten minutes.
The Consumer Confidence Index, which will be compiled based on the survey results, will serve as a baseline indicator for consumers' spending decisions, which are built on their expectations of the economic outlook. 'When more money is spent on certain products or services, it increases consumer demand of such products and services, which subsequently increases the size of production to meet the demand, leading to an uplift in the local economy. On the other hand, the decline in the general spending trend by consumers leads to a possible economic downturn. As such, the consumer confidence index will provide an invaluable resource of information to gauge public sentiment, and will help chart the future vision and direction of the national economy.'
The NCSI has also set up a state-of-the-art call centre that is equipped with the latest communication technology and software to be used for data collection. 'To further ensure a smooth and trouble-free survey, NCSI is to conduct a pre-test survey that will cover a sample of 50-100 Omani nationals. The trial survey will measure the response speed, the clarity of the questions and the subjects' feedback in order to adjust the actual form of the survey if required.'
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.