Overall consumer sentiment is net positive in the GCC. While some member states are faring better than others, the complete picture is one of net positive consumer sentiment. There are areas of concern as the growth of sentiment eases, however, on the whole, it seems the consumers of the Gulf are largely positive.
August sees a return to growth after the small dip in July as we entered the traditionally slower months of Summer.It will be interesting to watch this (predictively) increase further as we move into fewer restrictions across the region, especially travel.
D/A’s Managing Partner, Paul Kelly.
The small decline of July has now returned to a growth of 0.5 points in August and continues to show the growing confidence surpassing that of pre-pandemic times.
This reversal further supports the notion that the markets generally see a slow-down or decline in activity and sentiment as we move into and through the summer months in the region.
A continuation of modest growth can be expected as we watch markets slowly open up across the region.
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