Beirut Traders Association, BankMed launch ‘Beirut Traders Association- BankMed Investment Index’ for Q3 2013
In order to assess the reality of the wholesale sector in Lebanon, Beirut Traders Association and BankMed launched the “Beirut Traders Association – BankMed Investment Index,” backed by the technical support of the Central Administration of Statistics in Lebanon.
The index, which will be released on a quarterly basis, was announced during a press conference held at BankMed Headquarters in Clemenceau.
BankMed’s Executive General Manager, Mr. Mohamed Ali Beyhum, welcomed the guests and gave a short speech reasserting the Bank’s continuous efforts in supporting Beirut Traders Association and following up on the current activity in the Lebanese market today. Beyhum also pointed out the importance of such an index given that it will be one of the first leading indicators in the market. Following Mr. Beyhum, Mr. Nicholas Chammas, Chairman of Beirut Traders Association? presented the methodology applied and the results concluded.
Mr. Chammas highlighted the importance of the “BTA-BankMed Investment Index” stressing its important role in assessing the market activity in Lebanon. The index, according to Chammas, focuses on the commercial sector and its main economic engine, investment, and bases its analysis on actual figures rather than estimations or assumptions.
The launched index reflects the investment climate in Lebanon, giving an overview of the present commercial activity and overall economic situation. The results for the third quarter of 2013 indicate that the “Turnover Component” of the index witnessed an overall real deterioration amounting to 5.77% in comparison with the same quarter of 2012. Meanwhile, the “Intention to Invest Component” of the index, reflected a continued willingness to increase investment in the upcoming period.
The “BTA-BankMed Investment Index” will have an effective contribution in the commercial sector assisting the caretakers in generating educated decisions for future investments.