Business activity falls at sharpest rate for three months in LebanonStaff Writer | April 5, 2018
The survey, sponsored by Blominvest Bank and compiled by IHS Markit, has been conducted since May 2013 and provides an early indication of operating conditions in Lebanon.
Lebanon BLOM Lebanon PMI
The PMI is a composite index, calculated as a weighted average of five individual sub-components: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%).
Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.
Business conditions worsened across Lebanon’s private sector at the end of the first quarter.
March saw the headline BLOM Lebanon PMI move further into contraction territory to 46.5, down from a ten-month high of 47.3 in February.
The quarterly average was nonetheless slightly higher than that seen for the final three months of 2017. ■