The contraction of the private sector activity in the second half of 2013 led to pessimistic expectations of several economists and business people. The purchasing managers’ index for Lebanon (BLOM PMI) indicated deterioration in business conditions in the second half of last year whereby the PMI remained below 50 for 6 months in a row in 2013 in addition to the first month of 2014. Tourism, construction, and retail were the most hit sectors in the economy. Some analysts went to saying that the economy cannot withstand another year of unstable political and security situation and may end up in an economic crisis.
The contraction of the private sector activity in the second half of 2013 led to pessimistic expectations of several economists and business people. The purchasing managers’ index for Lebanon (BLOM PMI) indicated deterioration in business conditions in the second half of last year whereby the PMI remained below 50 for 6 months in a row in 2013 in addition to the first month of 2014. Tourism, construction, and retail were the most hit sectors in the economy. Some analysts went to saying that the economy cannot withstand another year of unstable political and security situation and may end up in an economic crisis…
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