2nd Consumer Confidence Survey underway

May 31, 2014 2:19 pm

The National Centre for Statistics and Information (NCSI) is starting the second consumer confidence survey today, which canvasses the opinion of the citizens of throughout the Sultanate on their expectations on the financial and economic outlook. The survey will also investigate 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, the results will provide 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.

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.

The survey will continue to 8 June and will include a sample of 1,200 Omani nationals aged 18 years or older, each of whom will receive phone calls from NCSI representatives in order 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.

Commenting on the importance of the survey, Sausan Al-Lawati, Acting Director General of Information at NCSI said: “Conducting the second survey of Consumer Confidence comes as part is NCSI’s effort to observe the value of consumer confidence index which totalled 161.7 point in March. In addition to updating other index, like expectations index, current economic situations and family income index and comparing them with the levels of the first survey conducted in March. The first survey was successful and the participants were cooperative with NCSI and we believe we will receive good cooperation for the second survey as well.”