UAE consumer confidence softens: Nielsen

UAE residents are still not feeling confident about the economy. That’s the message from the Nielsen Consumer Confidence Index, which measures perceptions of local job prospects, personal finances and spending intentions. Confidence has dropped for the second time this year, but only by 1%. It comes after the UAE dropped two places in an annual Prosperity Index published this week. Experts believe the UAE is likely to recover quickly from the drop in oil prices, thanks to the diversification of its economy into industry and tourism.