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Rise in cleared-check value shows spending uptick.

Summary: The value of cleared checks in the banking system, a coincident indicator of overall spending patterns in the economy, pointed to a slight recovery in spending, albeit from a low base.

BEIRUT: The value of cleared checks in the banking system, a coincident indicator of overall spending patterns in the economy, pointed to a slight recovery in spending, albeit from a low base.

Total cleared checks rose by a yearly 2.3 percent during the first quarter of 2012, versus a lower rise of 0.4 percent during the same period of 2011, when spending on consumer and capital goods had dropped.

For the first quarter of this year, a breakdown by currency shows that banks' clearings in Lebanese pounds amounted to LL5,411 billion ($3.6 million) while those in U.S. dollars amounted to $13.777 billion.

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Publication:The Daily Star (Beirut, Lebanon)
Date:May 4, 2012
Words:156
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