While recent economic showed the strength of the regional economies despite the ongoing geopolitical developments and the protracted eurozone debt crisis, one survey revealed that that all is not well after all. However, the somber sentiment is just in the short term since optimism for the year to come remains comparatively high. A recent Consumer Confidence Index survey conducted by Bayt.com, the Middle East's number one job site, and YouGov, a research and consulting organization, has shown that the overall sentiment in the region is less than positive for the present time. Overall, there is a propensity toward less positive sentiment toward the present situation across the region. Only 26 percent of the respondents to the Consumer Confidence Index survey believed that their personal financial situation is better now than it was this time last year, and only 25 percent feel optimistic about the current economy of their country. This is not considered to be a good time for business (according to 37 percent), with 43 percent stating that now is a "bad time" to buy consumer durables. In terms of employment, almost half of respondents (49 percent) claim that there are "very few jobs" available, yet of those who are currently employed, 26 percent state that their company has more employees than at the same time last year. At 66 percent, the majority believe that their salaries have not kept pace with the cost of living. Yet, there is definitely hope for a more positive future, as 52 percent of MENA respondents believe that their personal finances will become better in a year's time, and all countries expect that business conditions will improve. Inflation continues to generate a negative outlook across the board, with the cost of real estate being badly looked upon in all countries. Only 23 percent of respondents are optimistic about the future growth of their companies in terms of employees, with all countries sharing a neutral opinion about their companies being able to keep up with staffing demands. In general, there is little interest in purchasing a vehicle or property, however those who are planning or considering a large purchase will buy new. There is more interest in purchasing laptops and desktop computers than in any other major purchases, followed by furniture. "The appraisal of the current situation is subdued across the board, in terms of economy, commerce and employment. This sentiment is echoed in most countries, however there is a considerably more positive outlook for the near future as people look forward to improved conditions all around," said Suhail Masri, VP Sales at Bayt.com. "Given the current climate in the Middle East and, to an extent, globally, it is to be expected that sentiments for the present are low and that there is hope for a more positive future. The MENA region presents a mostly unified front in terms of opinions and aspirations, with an especially positive outlook for future financial and commercial conditions," said Sundip Chahal, CEO at YouGov. Inflation will continue to have a negative impact upon the cost of living according to 36 percent, and the cost of property for rental or purchase is still creating a feeling of negativity according to 30 percent of respondents.
