Egyptian consumer confidence rises 7.4 per cent in August on wages boost

Ahram Online , Monday 5 Sep 2011

Around 90 per cent of Egyptians believe the country is on the road to economic recovery, according to official stats

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prices go down and pushed up consumer indices (Photo:AP)

Egyptian consumer confidence rose 7.4 per cent month-on-month in August, according to a Monday report by the cabinet's Information and Decision Support Center (IDSC).

The report based its findings on the increase of two basic indices -- family income and Egyptians' confidence in economic polices.

The family income index climbed 48.5 per cent in August to record 50.8 points, with 14.7 per cent of those polled believing their financial condition would be better than last year. In July 2011, 40.1 per cent believed their economic situation was deteriorating.

The confidence index in economic policies climbed 1.2 per cent month-on-month August to reach 76.9 points, with 88 per cent of Egyptians polled believing their country economy is on the road to recovery, citing a fall in prices for goods and increase in wages.
 

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