BLOM Lebanon PMI Reached a 3-Month High in December at 47.9

The deterioration of the private sector’s economic activity managed to slowdown in December with the PMI registering a 3-month high at 47.9, still below the threshold of 50.0 separating growth from contraction. This has mainly resulted from the slackening deterioration of business conditions. Dr. Fadi Osseiran, General Manager at BLOMINVEST Bank, commented on the month’s results noting that “despite the persisting deterioration of business conditions, the slowing decreases we noticed in output levels and new orders may have been the result of the political talks during December that stirred hopes regarding a potential breakthrough in the presidential conundrum”. However, foreign demand for the Lebanese firms’ products and services revealed a slightly worsening bearish trend during December. Similarly, employment levels kept on deteriorating over the same period with firms cutting down further the quantity of their purchases. Looking ahead to 2016, Dr. Osseiran stated that “for the coming months, a political consensus regarding the election of a new president remains at the heart of any improvement in the private sector’s economy.”

Full details about December results are available in the BLOM PMI reports below:

BLOM PMI EN – Press Release 


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