Lebanon's Consumer Confidence Index drops in May, June
The Index posted a monthly average of 33.4 in the first half of 2014, increasing by 16.5 percent from the second half of 2013
Click here to add Beirut as an alert
Disable alert for Beirut,
Click here to add Byblos Bank as an alert
Disable alert for Byblos Bank,
Click here to add Economic Research & Analysis Department as an alert
Disable alert for Economic Research & Analys ...,
Click here to add Lebanese Parliament as an alert
Disable alert for Lebanese Parliament,
Click here to add Nassib Ghobril as an alert
Disable alert for Nassib Ghobril
Byblos Bank/AUB Consumer Confidence Index improved marginally in January and February, picked up pace in March and April, and regressed in May and June 2014.
The Index reached 37.3 points in April 2014, its highest score since September 2012. The Index grew by 10 percent in the first quarter to an average of 31, and rose by another 15 percent to an average of 35.7 in the second quarter of the year.
“The results reflect the Index’s first consecutive quarterly increases since the first and second quarters of 2011. Further, the Index posted a monthly average of 33.4 in the first half of 2014, increasing by 16.5 percent from the second half of 2013,” the report said.
Nassib Ghobril, chief economist and head of the Economic Research & Analysis Department at the Byblos Bank Group, said, “The formation of a new Cabinet in mid-February after more than 10 months of political deadlock and the confidence vote it received in Parliament in March, along with the concrete results of a ‘security plan’ launched across the country in April, were the main factors that affected positively the confidence of Lebanese households during the first half of 2014.”
Ghobril also noted that “the repeated failure of the Lebanese Parliament to elect a president by the May 25 constitutional deadline and the ensuing presidential vacuum, along with security breaches in the Bekaa [Valley] and, particularly, in Beirut in June, reversed the timid improvement in sentiment.”
- Al Tayer bucks the US department store trend with Bloomingdale's Kuwait opening
- Gulf Islamic banks set to outperform conventional banks for second year: Moody's
- Jordan secures EU finance for socioeconomic and environmental programs
- Same-day service deliveries in GCC an untapped market: Wing CEO
- Will terror attacks damper Arabs' appetite for European holidays?
- Consumer confidence in the UAE still stable since last quarter
- Lebanon’s consumer confidence drops this quarter after last year’s improvement, latest Bayt.com and YouGov Siraj survey reveals
- US Dollar, Japanese Yen Gain as Drop in US Consumer Confidence Hurts Investor Sentiment
- Middle East optimism continues with consumer confidence in UAE highest since 2009: MasterCard Index
- BSE index drops by 22 points in March