PMI August – Private sector business activity falls at fastest rate in six months

The intensification of security uprisings in the beginning of August severely hit activity in the Lebanese private sector economy at the fastest rate in six months. Steep drops in output and new orders levels forced BLOM PMI to fall further below the contraction threshold in August to score 45.5, down from the 47.9 recorded in July.As domestic and international new businesses were fading away, Lebanese companies within the survey reduced their purchasing activity as well as their employment levels. Purchasing prices and the average output prices also declined during August mainly triggered by disinflationary forces in the Lebanese private sector. Dr. Fadi Osseiran, General Manager at Blominvest Bank, commented on August’s results, and noted that “Clashes between the Lebanese army and ISIS militants in the Bekaa region, in addition to the ongoing domestic political deadlock concerning the presidential elections, had their toll on the economy and particularly on tourism”. Full details about August’s sub-indicators are available in the attached BLOM PMI reports.BLOM PMI Report_En

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