(MENAFN- Khaleej Times) Â The Abu Dhabi Department of Economic Development, or ADDED will start releasing the results of the first quarter report on economic indicators 2013, which will cover four developmental indicators for the emirate of Abu Dhabi, namely the consumer confidence in performance index, the national family status observatory index, the confidence in business climate index and the business cycle index.
Rashed Ali Al Zaabi, executive director of the planning and statistics sector of Added said that since September 2009 the department was regularly releasing composite indicators based on measuring levels of optimism or pessimism among individuals, consumers and businessmen in general.
Al Zaabi said that besides the basic indicators which are computed in most countries of the world, the department is currently embarking on new types of composite indicators such as transparency in FDI policies, credit cards indicator and other composite indicators. Al Zaabi said that the government's efforts and approach for continuing development and modernization of the economy were reemphasised by the declaration of the huge volume of government development expenditure allotted for the next five years, which would amount to Dh320 billion.
The indicators first quarter report pointed out that according to the consumer confidence index prepared by MasterCard in UAE, and the latest survey carried out in 2012 during the period (November 7 and December 23), the consumer confidence index in the UAE marked 91.4 points compared to 86 points scored in the previous survey. The end of the second quarter of 2012 where the index revealed that consumers in UAE were very optimistic on the overall result of the consumer confidence index, as they were also positive with regard to sub-indicators.
Living standards showed 95.6 points vs 88.6 points scored in the previous indicator, employment at 95.2 points vs 88.9 points, the economy at 94.6 points vs 89.1 points and stock market at 86.9 points vs 77 points. Consumers also remained very optimistic on fixed income with 84.7 points vs 86.2 points.
An overview of the performance of the global economy and the results of world indicators, revealed that in 2012 the global economy ended with a growth rate of approximately 3.2 per cent down by 0.1 per cent compared to the IMF revised forecast of November 2012, which predicted 3.3 per cent, in light of the continuing slowdown in economic performance in developed economies.
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.