PMI Improves and Moves Closer to Neutral 50-Point Mark

Contraction in the private sector’s economy eased to its most marginal level in November, with BLOM PMI recording very close to the neutral mark of 50 points separating economic contraction from growth. The indicator’s improvement has been consistent in the past three months, affirming the slowing rate of contraction of the Lebanese private sector’s economy. November’s improvement came on the back of a slower fall in companies’ output and the rise of their exports for the first time since April. Mr. Marwan Mikhael, head of Research at Blominvest bank affirmed that “All sub-indices (of the PMI) showed an increase in the number of surveyed businesses that had no change from the previous month” emphasizing the stabilizing situation among Lebanese companies. Mr. Mikhael also noted that “this advancing trend is expected to continue if no negative surprises occur on the political and security scenes.”

 Full details about November’s results are available in the attached BLOM PMI reports.



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