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Private sector economy shrinks at fastest pace since October 2016

06 August 2018

Lebanese private sector businesses continued to suffer from low demand and regional instability in July 2018

Dr Ali Bolbol, Chief Economist at BLOM Bank, commented the following on BLOM Lebanon PMI’s July 2018 result: “The July 2018 BLOM Lebanon PMI makes for a depressive reading of the index. The PMI fell to 45.4, its lowest since October 2016; and what is equally discouraging is that all sub-indices settled at below 50, with the exception of the Stocks of Purchases Index. Not surprisingly, to be blamed are cash flow problems, regional instability, and an uncertain domestic political climate. Hopefully, at least the latter could be turned around with the urgent formation of a new government and the serious tackling of the dire economic conditions.”

 

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