Consumer confidence falls to record low in Lebanon as crisis deepens

Consumer confidence falls to record low in Lebanon as crisis deepens

Consumer confidence in Lebanon has fallen to record low levels in the first half of 2020 as the country's economic crisis deepens.

The latest Byblos Bank/AUB Consumer Confidence Index fell to its lowest level since its inception in July 2007, registering 28.9 percent, reflecting the mounting frustrations of Lebanese citizens.

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The index was published on the same day that Lebanon's President tasked former Prime Minister Saad Hariri with forming a new government, bringing back the veteran politician a year after he was toppled amid nationwide protests against widespread corruption and a failing economy.

Hariri now faces a more impoverished Lebanon, devastated by the massive August port explosion, but also a more determined opposition.

The swift formation