Dubai businessmen upbeat in Q4

Leading businessman and investors remain upbeat with regard of prospected growth in the emirate business sector in the last quarter of the current year, according to a report released by a local authority.The report, issued by the Dubai Department of Economic Development (DED), on Saturday, said the optimism assessment was based on a polling that involved a sample of 500 companies operating in the emirate of Dubai.The consumer confidence index amounted to 115 points in Q3 of 2011, the report said, indicating that confidence in the sales sector was high too.Sami Al-Qamzi, the DED Director General, affirmed importance of this index for forecasting monitoring reactions in the business sector.The polling showed that 57 percent of the sample forecast high yields in Q4 of the year, 30 percent foresaw stability of volumes of sales, 44 percent expected hike of earnings and 39 percent anticipated stability of proportion of returns in Q3 of 2011.Services companies appeared to be much more optimistic, with regard of posting earnings, as compared to those in the industrial and commercial sectors. Moreover, small and medium enterprises, as well as exporting companies, foresee improvement of performance.