BLOM PMI Slips to 49.3 points in December from its 17-month high in November

BLOM PMI recorded a further modest deterioration in the private sector’s economy in December, reaching 49.3 points down from 49.5 points, the closest it got to the neutral mark 50, in the previous month. Economic contraction persisted on the back of slight falls in the companies’ output and demand, although foreign demand remained stable compared to the previous month. Employment slightly declined at the Lebanese companies after 4 months of increases, and labor costs also fell fractionally in December, slightly relieving the cost pressures off the companies. Selling prices continued to drop for the sixth month at a moderate pace to boost faltering sales. Dr. Ali Bolbol, Economic Advisor at BLOMINVEST Bank, commented on the PMI results saying “The average PMI for the last quarter of 2014 stood at 49.2, the highest since the second quarter of 2013,” and noted that “this could bode well for the coming year, setting the stage hopefully for a long-delayed economic recovery underpinned by political reconciliation and stability.

Full details about December’s results are available in the attached BLOM PMI reports:

BLOM PMI_En LB_PMI_ENG_PR

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