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BLOM Lebanon PMI Registered Slight Uptick to 46.5 in January 2019

06 February 2019

Softer, yet sharp overall, contractions in output and new orders

On the PMI results for January 2019, Marwan Mikhael, Head of Research at BLOMINVEST BANK, commented the following on BLOM Lebanon PMI’s January 2019 results:

“The PMI result came to confirm all economic indicators that were trending lower throughout last year and continue to do so in the absence of political stability. Private sector was crowded out from the lending market with claims to residents declining by around 1.7% in 2018. Economic conditions continue to weaken as confidence is being eroded with high fiscal deficit, high public debt, and nine months without a government. It has been a year now that companies are laying off workers because of deteriorating demand and difficult business conditions. The formation of a new government will only help in case the government is formed of competent people and puts reforms on a fast track.”

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Press Release (632 KB)
List of Banks No. 14. Copyright © 2019 BLOM BANK