UAE consumers feel the country is now driving in the recovery lane

A study released by Dubai Chamber of Commerce '&' Industry (DCCI) shows the consumer confidence in the UAE economy has risen as they start to embrace the idea of an economic recovery while another study indicated that the fall in Dubai's property prices and rental costs has come to the relief of many residents and businesses alike.

The study derived from the Nielsen Global Consumer Confidence Index survey revealed that following a record low in March, consumer confidence levels have risen as almost half of consumers surveyed expected the country to emerge from the current downturn in the next 12 months. A total of 87% of consumers questioned in survey said they believed they are in an economic recession of which 45% are confident the country will emerge from it in the next year, a 13% hike from the company's last survey in March.