Growing confidence

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THE MASTERINDEX of Consumer Confidence survey for the second half of 2005 reveals improved consumer confidence as Egyptians adopt an increasingly optimistic outlook.

The twice yearly survey, commissioned by leading payment solutions company MasterCard International, covers selected markets in South Asia, the Middle East and Africa (SAMEA), analysing consumers' perceptions of five key variables -- levels of employment, economic performance, regular income, stock market performance and quality of life. Kuwait, Lebanon, Saudi Arabia, South Africa and India were included in the survey alongside Egypt.

Egyptian consumers notched up a score of 62.3 points out of a possible 100, a huge improvement on last year's 37.0.

The MasterIndex survey of consumer confidence is the only one of its kind in the region. Designed to gauge the perceptions of people who have the wherewithal to engage in a wide spectrum of the activities that dictate the performance of the national economy, the correspondents are limited to those with savings account, home or car loans and credit card or ATM card carriers.