Investor confidence ticks up

AMMAN: The Jordan Strategy Forum “Investor Confidence Index” has increased for the first time since March by 0.24 points, reaching 91.44 points in August compared to 91.2 points in July, according to a statement of the forum. The monthly-issued index published by the forum seeks to measure the confidence of investors operating in the Jordanian market through three aspects: confidence in the Jordanian currency and monetary system, confidence in the real economy, and confidence in the Amman Stock Exchange (ASE).

According to the forum, the confidence in the real economy sub-index rose by 2.62 points in August 2016, the highest since the beginning of this year, reaching 105.47 points, according to a statement of the forum.  The number of registered companies increased to reach 785 compared to 442 companies in the previous month, accompanied with an increase in the capital of the registered companies which reached JD13.9 million compared to JD5 million in July.

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The manufacturing quantity production index increased by 6 points to reach 170.89 points as a result of an increase in the production index for all  sectors. Although the number of construction permits increased in August 2016 to 2810 in comparison to 2235 permits in the previous month, tax on the monthly real estate volume decreased to JD10.1 million from JD12 million in July 2016.

Confidence in the monetary system sub-index dropped 0.84 points to 90.35 points in August from 91.2 points in July 2016. The change was attributed to a slight decrease in CBJ’s foreign reserves, which reached JD11,836 million in August. The confidence in the Amman Stock Exchange (ASE) sub-index dropped by 1.54 points during the stated month, settling at 95.62 points in comparison to 97.12 points in the previous month. This is due to decreases in both the ASE index and the amount of foreign investment in it.