« Back

PMI remains in contraction territory, but ticks up to three-month high of 45.8

04 October 2018

Marwan Mikhael, Head of Research at Blominvest Bank, commented the following on BLOM Lebanon PMI’s September 2018 results:

“As expected, the slowdown in economic activity is confirmed by the PMI declining for the third quarter in a row by end September 2018, and the fourth lowest quarterly level ever since inception. The economy has entered a stagflation phase with average inflation for the first 8 months of the year hitting 6.29% and GDP growth at 1% during the same period. Nothing less than a formation of a new government and the implementation of reforms encompassing electricity, business environment, public sector, waste management, and transportation will be enough to restore investors’ confidence.”



Report (428 KB)
Press Release  (632 KB)
List of Banks No. 14. Copyright © 2019 BLOM BANK