BLOM PMI ended the year at a ten-month high, but remained in contraction area

During the month of December, Lebanon’s Purchasing Managers’ Index (PMI) recorded its highest reading since February, with the index standing at 47.0 points, still below the neutral mark of 50 points separating economic contraction from growth. The indicator’s improvement has been consistent in the past two months, affirming the slowing rate of contraction of the Lebanese private sector’s economy. December’s improvement came on the back of slower falls in companies’ output and new orders’ levels. Commenting on the December 2016 PMI results, Myrna Chami, Senior Economist at BLOMINVEST Bank, said: “Following the optimistic vibes carried over the month of November after the election of a president, the formation of a cabinet before the end of year managed to further decelerate the private sector’s contraction in December. The pick-up in the number of incomers to Lebanon, and especially expats, reveals the improving confidence in Lebanon’s security and political situation. This could result in higher amounts of capital inflows in the upcoming months hence boosting business activity.”

Full details about December’s results are available below:



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