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Business conditions deteriorate at slowest pace for nine months

08 December 2018

On the PMI results for November 2018, Dr. Ali Bolbol, Chief Economist at BLOM Bank, commented the following:

 
“For the third consecutive month, the decline in Lebanon’s PMI decelerated to stand at 46.7 in November 2018, driven by decelerated falls in output, new orders, exports, and employment. These results are somewhat surprising for an economy mired by severe political and economic uncertainty, but perhaps they reflect the fact that the Lebanese economy is more flexible than what we think. What is important is that these slower declines gather more strength to reach the 50 mark and more. That is something we hope to be helped by a swift formation of a new government and the implementation of a comprehensive economic reform program making optimal use of the promised “CEDRE” funds.”

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