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Business conditions drop to record low in Lebanon

Staff writer ▼ | May 10, 2016
Business conditions across Lebanon’s private sector economy deteriorated sharply in April.
Asia   BLOM Lebanon PMI
At 44.1, down from 45.0 in March, the headline seasonally adjusted BLOM Lebanon PMI registered its lowest reading in three years of data collection.

The headline index was weighed on by sharp and accelerated downturns in both output and new orders, the fastest ever recorded by the survey.

Anecdotal evidence suggested that demand had weakened notably during the month due to an unstable political situation and issues concerning security.

Moreover, businesses also faced a marked decrease in new orders from abroad, the sharpest since August 2014.

The lack of incoming new work at Lebanese businesses impacted negatively on both buying levels and employment in April.

Purchasing activity, in fact, fell to the greatest extent in the survey’s three-year history, while the rate of job losses was the most marked since December 2013 (albeit only moderate overall).