According to “Lebanon this Week” issued by Byblos Bank, industrial production increased during the first quarter of 2008, with a balance of opinion standing at -4, compared to -17 during the same quarter of 2007, as indicated by the Central Bank’s business survey.

The business survey, which reflects the enterprise managers’ opinions on the evolution of their businesses in order to depict the evolution of key economic variables, showed that the balance of opinion for overall demand of industrial goods increased from -27 in the first quarter of 2007, to -8 in the same quarter of 2008.

As for commercial activity, the volume of sales also increased significantly during the first quarter of 2008, with a balance of opinion standing at -11 compared to -33 during the same quarter of 2007.

Moreover, overall activity in the construction and public work sectors radically improved in the first quarter of 2008, with a balance of opinion standing at -5, compared to -23 in the same quarter of 2007. Many surveyed managers reported that, in the construction and public work sectors, ongoing projects rose at the end of the first quarter of 2008, with a balance of opinion standing at -19, compared to -27 a year earlier.