Response to consumer confidence survey exceeds expectations, says National Centre for Statistics and Information
The National Centre for Statistics and Information (NCSI) has successfully concluded the inaugural consumer confidence survey and reports an outstanding response from citizens in Oman. A sample of some 1,300 Omanis who were aged above 18 years old, and drawn from different parts of the Sultanate received phone calls from the centre to canvas their opinion of future expectations on the financial and economic outlook.
Commending the survey respondents for their participation, NCSI Consumer Confidence Survey manager, Sausan Al-Lawati noted: “The cooperation from citizens really exceeded our expectations. More than 90% of those who received calls answered all the questions in a straight forward manner and without hesitation. This reflects citizens desire to participate in activities central to the public interest of our nation.”
The Consumer Confidence Survey is a part of NCSI’s commitment to use latest scientific research methodologies to provide reliable statistical data, indicators and publications for the public, and to update the concerned authorities and decision makers with the latest statistics and information. This survey provides indicators of consumers’ confidence in the economy, and can be used within a global framework to summarize trends of projected economic growth in the short term. Therefore, taking the right decision based on the results. The NCSI urges the citizens to cooperate with NCSI representatives by providing accurate data to enhance the quality of the results.
The Consumer Confidence Index 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 such products and services, which subsequently increases the size of production to meet the demand, leading to a local uplift in the 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.
This is the first survey of its kind through call centre. The NCSI is planning to conduct surveys on a regular basis (every three months) to follow the growth of economy.
P.O. Box 880, Muscat 130, Sultanate of Oman
+968 24 698 010