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.
“Moderate growth continues for a third month in September with a further 0.5 base point increase. Surprisingly, growth this month was driven by business as the harder to move and greatly dispersed index builds on a small base.”
Paul Kelly, Managing Partner
The continued growth (albeit small) has returned the overall regional sentiment back to an almost series high since Jan 2020.
The growth was not evident across all indices this month, however. Sentiment in the overall GCC economy and employment actually declined in September marginally. Leaving the incline solely contributed from business sentiment across the board.
A continuation of modest growth can be expected as we watch markets slowly open up across the region.