Consumer confidence dropped to record low

Male and young consumers displayed
higher confidence

Lebanese consumer confidence posted a monthly average of only 29 percent, in the first half of 2013, dropping by 14 percent from the same period in 2012, according to the Byblos Bank/AUB Consumer Confidence Index. This constituted a record low on a semi-annual basis.
The index decline pointed to January, February, May and June, while confidence improved relatively in March and April.
The Byblos Bank/AUB Consumer Confidence Index is a measure of the sentiment and expectations of consumers with respect to the economy and their own financial standings. It follows the standard consumer confidence indices’ methodology, used worldwide.
Detailed results of the Index show that male consumers displayed a relatively higher level of confidence than their female counterparts. Consumers in the 21 to 29-year-old bracket also displayed a higher level of confidence than other age brackets. Consumers with household incomes above $2,000 per month consistently had a higher level of confidence than those earning less. Moreover, students and private sector employees posted a higher level of confidence than the self-employed, the unemployed, public sector employees and housewives.