(MENAFN- Khaleej Times) High net worth Emiratis and expats have a positive outlook on the economy First Gulf Bank (FGB) has announced the latest score of its Wealth Sentiment Index, which has increased from 1,017.41 in January to 1,020.52 in February - up 0.31 per cent from the previous month, as general sentiment in the UAE remains cautiously optimistic.
Huda Abdulla Mohammed, head of the Emirati segment in FGB, said: "I am delighted to launch the February Index and to be a part of this important initiative for FGB Wealth. The Wealth Sentiment Index presents high net worth Emiratis and expats in the UAE with a unique insight into the mood of the market."
Odisseas Trikaliotis, head of research and senior research director at Ipsos, said: "The February score indicates a continuing positive outlook on the economy, due to a combination of factors. These include crude oil prices crossing the $50 barrier, which will have a positive impact on the UAE economy, alongside an increase in the Purchasing Managers' Index and stock movements in the UAE. At the same time, an increase in inflation and drop in occupied room nights affected sentiment adversely."
The FGB Wealth Sentiment Index was launched in partnership with research agency Ipsos and insurance provider Generali in January 2017 and was established to measure the prevailing mood of affluent investors in the UAE market, from a personal and business point of view. It is an indicator of the overall sentiment of the market, based on existing fundamental and economic factors.
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