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UAE families see uptick in Q4 expenditure
posted on 26/12/2011: 29 views
Nearly half of UAE-citizen families in Abu Dhabi expect their monthly spending will go up in the fourth quarter of the year, according to opinion polls results.
The findings further reveal that household borrowing in the capital went up 3.8 per cent and more than 19 per cent of expenditure accounts for payment of loan instalment.
“Forty-eight per cent of citizen families, expected that their monthly expenditure would increase during the fourth quarter of this year,†according to the results of the National Family Conditions Observatory Index, released by the Studies Directorate of the Department of Economic Development in Abu Dhabi on Sunday.
The results indicate that the largest percentage of loans are spent on education of children and private tutoring, in addition to car financing. Families spent Dh31,987 on average in educations in the third quarter, according to the results of the National Family Conditions Observatory Index.
The percentage of borrowers in UAE citizen families in Abu Dhabi, according to the results of opinion polls conducted during the third quarter of 2011, went up by 3.8 per cent to 61.5 per cent compared to 57.7 per cent in the same period last year.
The results indicated that personal loans have become a burden and exert great pressure on citizen families. Personal loan payment, which is 19.2 per cent of the monthly household expenditure, went down by one per cent in the third quarter of 2011.
According to the index, citizen-families in Abu Dhabi’s have felt the rise in the prices of food commodities in particular in the third quarter of 2011, compared to the second quarter of the same year.
The general index for, the third quarter of 2011, increased by one point in September 2011, recording 79 points compared to 78 points in the second quarter of 2011.
Despite the increase in food prices felt by citizens, there is no change in the pattern of consumption, as most families continued to consume nearly the same amount or sometimes more of the same quantities of the commodity which witnessed an increase in price.
The largest percentage of citizen-families, within the sample, indicated that their consumption of food commodities had increased despite the rise in prices in the emirate, particular with regard to meat, fish, poultry and dairy products.
The Family Conditions Indicator revealed that the average spending on mobile phones registered Dh3,595 during the three months preceding, the average household expenditure on fixed phones and the Internet at Dh1,248 during the three preceding months. About 62 per cent of the respondents, according to indicator, continuously changed their mobile phones, 62.4 per cent of the respondents bought their cars through bank financing, and they registered an increase of three per cent compared to the same period in 2010. â€" Khaleej Times
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