Output decline slows in Lebanon’s private sector

SourceThe National
SectorEconomy
CountryLebanon

Lebanon's private sector shrunk at a slower pace in March, with business conditions hitting a 17-month high due to a slower decline in output and new orders. The Blom Lebanon PMI, which measures operating conditions in the Lebanese private sector, rose to 46.4 in March from 42.2 in February, but remained below the 50.0 mark that separates growth from contraction. The PMI reading was driven mainly by slower contractions in output and new orders indexes that each hit 43.2 at end of the first quarter 2021, said Tala Nasrallah, senior research analyst at BlomInvest Bank. "Business expectations remain very depressed, marred by political ...read more...