Sub-Saharan Africa has uplifted itself from the two decade economic low reached in 2016, bringing a slight easing of pressure but not a return to the robust growth rates previously experienced. In the 5th edition of Nielsen Africa Prospects ranking, we look at how the countries have performed across various parameters.
Consumer confidence showed a downward trend in Q1 2016 in some countries that are reliant on oil production. In particular, confidence in the UAE and Saudi Arabia remained above the optimism baseline, but declined from the previous quarter.
Morocco marked its first introduction to the Nielsen’s consumer confidence survey in the third quarter with an index score of 85. This quarter’s addition of Morocco brings the total number of countries surveyed to 61, globally.
Consumer confidence in the United Arab Emirates (UAE) had the highest index of five countries measured by Nielsen in Middle East/Africa region (108), but the country's confidence decreased seven points from the first quarter—the biggest quarterly decline in six years.
Globally, more than six-in-10 respondents (63%) say they like when manufacturers offer new products. But while consumers across the globe are enthusiastic about new products, their purchasing patterns vary widely.
The Middle East/Africa region registered a one-point increase in Nielsen’s latest first-quarter global consumer confidence results with an index score of 96. Three of five countries measured in the region also showed confidence increases.