Lebanon’s Purchasing Manager’s Index (PMI) rose back to 45.5 points in July, yet still highlighting a persistent weakening in the private sector economy. Surveyed companies witnessed slower contractions in output and new orders, although orders placed by foreign customers deteriorated at a faster rate than that of the previous month. Commenting on the July 2016 PMI results, Myrna Chami, Senior Economist at BLOMINVEST Bank, said: “Despite the lingering uncertainties related to the country’s political deadlock, July saw a decelerating deterioration in the private sector’s business conditions. The recuperating tourism and real estate activities may have helped in slowing the decreasing levels of output and new orders. Businesses may expect this advancing trend to endure in the absence of “shocks”, or in the case of a political breakthrough taking place to fill the presidential vacuum.”
Full details about July’s sub-indicators are available below: