Lebanon’s monthly economic indicator BLOM PMI signaled a further recession in September, scoring 47.6 points up from 45.5 points in August, still below the threshold separating economic growth from contraction. ISIS-related disturbances continued to weigh down on demand leading to lower output levels at Lebanese companies and fewer incoming orders from abroad. Nevertheless, Lebanese companies remained optimistic as they maintained their stocking pace unchanged and even expanded their workforce, in addition to keeping their output prices at encouraging levels. Commenting on September PMI results, Dr. Ali Bolbol, Economic Advisor at Blominvest Bank, noted that “a necessary condition to jolt the economy on that path (of recovery) is putting the internal political house in order and embarking on the crucial step of electing a president”. Full details about September’s results are available in the attached BLOM PMI reports.
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