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Egypt's consumer confidence drops in Q2: Report Revolutionary optimism has been 'replaced by a more realistic view of the country's situation and economic aspects' says group behind a recent study
Egypt and Saudi Arabia have posted the biggest quarterly falls in a ranking of consumer confidence across 56 countries by global market research company Nielsen. The two countries, which witnessed the biggest increases in Q1 2011, saw the largest declines in the second quarter of the year. Egypt is down 10 points and Saudi Arabia down 11, though both are trending consistently with last year's performances, according to the study. "In Egypt, post-revolution optimism subsided and was replaced by a more realistic view of the country's situation and a higher awareness of the economic aspect of the post-revolution period," said Ram Mohan Rao, managing director of Nielsen Egypt.
