The quarterly index published by Fransabank and Beirut Mechants Association to measure activity in the retail sector reached 0.83 in the first quarter of 2023, indicating a sharp decrease (-80.92 percent) compared to the 1.07 achieved in the last quarter of 2022. This is the worst performance recorded since the index was created in 2011. This represents a 99 percent drop compared to the last quarter of 2011.
These figures reflect the country’s deteriorating political and economic conditions and the severe recession. Despite the announcement of 2.5 percent growth by 2022, the collapse continues in most sectors. As a result, household purchasing power continues to deteriorate. As specified in the report, monetary pressures are increasing on citizens, and the purchasing power of Lebanese families is experiencing unprecedented pressure.
