Cairo- Despite plunging oil rates, a main source for the Kingdom’s revenue, Saudi consumers displayed considerable and consistent confidence in their economy which was further proved stable in the second quarter of 2016.

Also, consumers across the United Arab Emirates and Egypt have shown a notable increase in consumer confidence.

Nielsen rates showed that consumer confidence in Saudi Arabia remained unchanged at 104 in the second quarter of 2016 from 104 in the first quarter of 2016.

In Saudi Arabia, the Consumer Confidence Index cited is part of The Nielsen Global Survey of Consumer Confidence and Spending Intentions.

Consumer confidence in Saudi Arabia averaged 107.44 from 2010 until 2016, reaching an all-time high of 120 in the third quarter of 2011 and a record low of 95 in the first quarter of 2013. Consumer Confidence in Saudi Arabia is reported by the Nielsen.

The survey is conducted every quarter by the internet and measures the level of optimism that consumers have about job prospects, personal finances and spending intentions.

In earlier statements made to Asharq Al-Awsat newspaper, the Nielsen office said that Saudi Arabia continues to record substantial improvement in economic activity despite present fears linked to declining oil rates and regional geopolitical instability.