Low demand for goods and regional instability continued to take their toll on Lebanon’s private business sector in July, according to BLOMINVEST PMI report Friday.
“Business conditions in Lebanon’s private sector economy deteriorated to a sharper extent at the start of the third quarter. This was signaled by the headline BLOM Lebanon PMI falling from 46 in June to 45.4 in July, marking the lowest reading since October 2016,” the report said.
It cited drafters of the PMI report as saying that the uncertain political landscape, combined with cash flow issues, reportedly weighed on demand conditions in July.
“Survey data signaled the sharpest decline in new business for 21 months. Sales to international clients were also reduced, as instability at a broader regional level impacted foreign demand,” the report said.
The PMI report contains the latest public release of data collected from the monthly survey of business conditions in the Lebanese private sector.
The survey, sponsored by Blominvest Bank and compiled by IHS Markit, has been conducted since 2013 and provides an early indication of operating conditions in Lebanon.
