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PMI remains in contraction territory, but ticks up to three-month high of 45.8

04 October 2018

Marwan Mikhael, Head of Research at Blominvest Bank, commented the following on BLOM Lebanon PMI’s September 2018 results:

 
“As expected, the slowdown in economic activity is confirmed by the PMI declining for the third quarter in a row by end September 2018, and the fourth lowest quarterly level ever since inception. The economy has entered a stagflation phase with average inflation for the first 8 months of the year hitting 6.29% and GDP growth at 1% during the same period. Nothing less than a formation of a new government and the implementation of reforms encompassing electricity, business environment, public sector, waste management, and transportation will be enough to restore investors’ confidence.”

 

 

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