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BLOM Lebanon PMI Ends 2018 with a Reading of 46.2

04 January 2019

December saw a marked contraction in output at Lebanese private sector companies which continued to cite political instability as a main impediment to growth.

On the PMI results for December 2018, Dr Fadi Osseiran, General Manager of Blominvest Bank, commented the following:

“The BLOM Lebanon PMI reading of 46.2 in December confirms our forecast for an implied-GDP growth of 1% for the year 2018. Due to the repeated failures in the formation of a government, the holiday month of December actually saw the fastest fall in new orders for three months. The prolonged political gridlock is delaying Lebanon’s access to much-needed CEDRE funds and desperately-needed reforms.”

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List of Banks No. 14. Copyright © 2019 BLOM BANK