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Private businesses continue on their downfall path

8-11-2019

The Purchasing Managers’ Index (PMI) by BLOM Bank settled at 48.3 during the month of October, recording a higher rate, 46.4, compared to September. According to BLOM Bank executive director, Fadi Osseiran, the operational activities of the Lebanese private sector posted the slowest decline since January 2016, noting that the findings of the above report have been collected before the onset of the current demonstrations on October 17. The activity of the private sector companies, Osseiran explained, is completely disrupted, anticipating an interruption in the publishing of the PMI for November in the aftermath of the continuing revolts. Osseiran attributed the slow decline in the operational activities partially to a marginal decline in the productivity of the private sector businesses in Lebanon during October. The PMI has shown a drop in the new orders by said companies as of the last quarter of 2019, albeit slightly less than last month. )Al Liwaa, November 8, 2019(

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