The private sector’s economy remained at a low ebb in November, as revealed today by the economic indicator BLOM PMI which registered its lowest reading since August 2014. Lebanese companies participating in the monthly PMI survey reported frailer demand for goods and services in addition to slower new orders from abroad for the 4th month in a row. On the supply side, employment at the Lebanese companies recorded another marginal slip and purchasing activity was reduced. Dr. Ali Bolbol, , Economic Advisor at BLOMINVEST Bank, commented on the month’s results noting that “Lebanon’s Purchasing Managers’ Index (PMI) declined further for the second month in a row, reflecting the growing political uncertainties in the Lebanese economy. The reading for the month of November 2015 was 46.9, driven by an accelerated decline in new orders that was only slightly tempered by a slower fall in exports. Although output and input prices fell at a decreasing rate, deflationary pressures persist since at least the beginning of the year.” Dr. Bolbol added “The evidence shows yet again the severe weakness of demand in the economy – an economy that is also being denied any adjustments from lower prices and does not seem to see any “light at the end of the tunnel”. Hopefully, the current talk about a political settlement could reverse all that in the near future.”
Full details about November’s results are available in the BLOM PMI reports below: