Blom Bank SAL

06/03/2021 | News release | Distributed by Public on 06/03/2021 03:28

BLOM Lebanon PMI May 2021: Signs of stabilisation as Lebanon PMI hits 19-month high

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BLOM Lebanon PMI May 2021: Signs of stabilisation as Lebanon PMI hits 19-month high

03 June 2021

Commenting on the BLOM Lebanon PMI for May 2021, Dr. Ali Bolbol, Chief Economist/Head of Research at BLOM BANK, said:
'The BLOM Lebanon PMI stood at 47.9 in May 2021, increasing for the fourth consecutive month and signaling one of the softest declines in economic activity in recent memory. This shows the economy's built-in ability to adjust - albeit slowly - to the country's current crisis, especially in the case of new exports that hit the 50 mark and were no doubt driven by the weaker exchange rate. That said, the economy by far hasn't turned the corner, and still has a long way towards recovery. And it is no secret that the latter will be necessarily helped by the swift formation of a capable and reforming government of experienced specialists.'

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