High Optimism: UAE consumers sold on recovery

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More UAE consumers are sanguine about the recovery of the economy now compared to four months ago and they see the economy rebounding faster in the next couple of months, says a new survey.As many as 61 per cent of UAE residents believe now that the economy will rebound within two to three months and grow just as strongly as or stronger than before Covid-19 against 57 per cent at the end of June, according to a McKinsey & Co survey.The increase in optimism can be attributed to the reopening of the economy, resumption of air travel and the government's proactive approach to control the pandemic through large-scale testing and tougher actions against violators of Covid-19 guidelines.Ahmed Youssef, senior partner at McKinsey & Co, said consumers in the Middle East ...read more...