Lebanon's Consumer Sentiment Index (LCSI)'s first wave has been launched for the first time in Lebanon, as part of a survey conducted across 28 countries. Its results are driven by the aggregation of four weighted sub-indices relating to current personal financial conditions, economic expectations, investment climate, and employment confidence, all of which contribute to LCSI being a key predictor of general consumption and investment trends in the Lebanese market.
As the economic and financial crisis continue to deepen in Lebanon, people’s attitudes are changing regarding what they expect of the local economy, their personal financial situation, their confidence in making purchases and investments, their employment security, and their opinion towards the government, banks and public institutions.
The first time ever results covering the period between July and September 2020, have shown that the vast majority of the Lebanese (94%) say that things in the local market are moving in the wrong direction and 92% see that the economic situation is weak. On a personal level, 52% have indicated that their personal financial situation is weak, while only 1% said it is strong.
When it comes to the top concerns in the local market, the high cost of living/inflation tops the list with 48%, followed by the weak economy (34%) and unemployment (31%).