The BLOM Lebanon PMI shows a rapid decline in economic activity over the past six months

The BLOM Lebanon PMI for the month of August 2014 showed a sharp decline from 47.9 to 45.5 over the past six months.  The main components of the indicator, namely production, new orders and employment, witnessed a sharper decline than in July and companies’ level of procurements retracted while deliveries to suppliers improved in view of the regression in levels of purchases. The report which is issued by BLOM notes that the decline of production within the private sector is the most evident since the month of February in view of the security problems and their impact on tourism.  Decline in the level of orders is said to be due to the decline in exports which prompted companies to reduce their staff and limit purchasing which, for its part, scored the lowest level of decline since the start of the PMI publishing back in May 2013.

Source: Al-Safir, Al-Nahar, 4 September 2014

To review this report, please go to the following link: BLOM Lebanon PMI