The contraction in the private sector’s economy seemed to have pulled the brakes in April. According to Blominvest’s release today, BLOM PMI reached a four-month high in April posting 48.5 points, although it remained below the neutral mark of 50 points separating growth from contraction. The surveyed companies noted that the stabilization of security situation has contributed to the slowdown of the 11-month decline in production and new business orders. In parallel, a recovering demand from abroad led the exports’ orders to post a growth for the first time this year. On the domestic front, the surveyed companies maintained their prices on the lower end during April to encourage more sales, while simultaneously enduring a higher inflation in their purchasing costs. Full details are available in the attached BLOM PMI reports.
BLOM PMI_Press Release_En