BLOM PMI at Eight-Month High on the Back of Easing Contraction

Lebanon’s private sector economy continued to contract in June, but the rate of decline eased considerably and was only marginal. The economic indicator BLOM PMI therefore registered at an eight-month high of 49.1, up from 48.0 in May, but still below the neutral mark of 50 separating growth from contraction. The relative calm on the security front during the month outweighed the political void and led companies to expect a return to growth, whereby they increased their staffing and inventory levels after a series of reductions. Meanwhile, the survey’s results revealed a subdued demand during the month, as reflected by the continuing contraction of new orders and exports requests at the Lebanese private sector’s companies. According to the latter, demand was still pressured by the ongoing domestic and regional uncertainties. Full details about June’s sub-indicators are available in the attached BLOM PMI reports.

LB_PMI_Press_Release LB_PMI_Report

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