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Slowest deterioration in business conditions for one year

06 March 2019

At 46.9 in February, up from 46.5 in January, the headline BLOM Lebanon PMI indicated another marked deterioration in business conditions across the private sector economy. However, the latest decline was the slowest recorded for one year.

 
Riwa Daou, Senior Economist at BLOMINVEST BANK, commented the following on BLOM Lebanon PMI’s February 2019 results:

“The slowest PMI deterioration in a year coincides with the long-awaited government formation. February’s PMI stood at 46.9 up from 46.5 in January on the back of softer contractions in output and new orders. From here, we stress again the importance of enacting true reforms so as to ensure that the positive buildup in confidence moves from being frail and short-lived to solid and sustained.”

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