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| The survey is calculated using the results from the first quarter of 2007 as a base, with a score of 100 |
Corporate optimism in the Gulf region, especially UAE, is very high in the second quarter of 2009 compared to first quarter, according to an HSBC Bank report. The bank's quarterly "Gulf Business Confidence Survey" shows the highest increase in the overall Index since October 2008, of nearly five points, from 74.8 to 79.4.
The survey is calculated using the results from the first quarter of 2007 as a base, with a score of 100. A score greater than 100 indicates a shift in the positive direction.
A score lower than 100 indicates that business confidence is lower than in the first quarter of 2007. Between October 2008 and January 2009, the core fell from 92 to 71.2. The survey is based on the responses of 1,823 executives in all six states of the Gulf Cooperation Council (GCC). All states except Bahrain made a positive increase in business confidence in the first half of 2009.
