Blom Bank SAL

05/06/2021 | News release | Distributed by Public on 05/06/2021 10:24

BLOM Lebanon PMI April 2021: Softest deterioration in Lebanese business conditions for 18 months

« Back

BLOM Lebanon PMI April 2021: Softest deterioration in Lebanese business conditions for 18 months

06 May 2021

Dr. Fadi Osseiran, GM of BLOMINVEST BANK, commented on the April 2021 BLOM Lebanon PMI:


'The rise in the BLOM Lebanon PMI of April 2021 to 47.1, indicates a softer deterioration in the private sector business conditions since October 2019. The rise was a result of the softer yet sharp decline in the trend of output and new orders, in addition to the easing of higher input and output cost burdens due to a weaker exchange rate coercing inflation upwards. Also, employment seemed to have broadly stabilized with wages registering a marginal decline. Despite all this, prospects regarding future business conditions and output remain in record low for the coming year, subsequent to Lebanon's economic instability in the absence of government formation efforts and economic reform programs.'

Report

Press Release