BLOM Lebanon PMI Fell to an 11-Month low of 47.8 in August

Contraction in the private sector’s economy accelerated in August as the BLOM PMI declined further to 47.8. The index remained below the neutral mark of 50, separating economic contraction from growth, for the 26th successive month. The downturn was mainly on the back of overall deterioration in business conditions especially the fastening declines in companies’ output levels, incoming new orders and new work from abroad. Commenting on August’s PMI results, Dr. Fadi Osseiran, General Manager at BLOMINVEST Bank, said: “Once again, the month of August has offered more proof that the deep political divisions on the country’s key issues are behind the slackening business activity within the Lebanese private sector. BLOM Lebanon PMI revealed the sharpest monthly contraction since September 2014 with output and new orders’ levels decreasing at a faster pace than that of the previous month. Foreign demand also tightened over the same period as export orders maintained their downward trend to hit a 6-month low. Besides the continuous failure in electing a new president, the political bickering between the different parties inside the Cabinet is paralyzing public policy. ”

Full details about August’s results are available when clicking on the links below:

BLOM_PMI_Press Release – EN


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