Lebanese private sector contraction eased in April on slower declines in output and new orders, survey figures from Markit Economics and Blominvest Bank showed Wednesday.
The BLOM Purchasing Managers’ index, or PMI, rose slightly to 49.0 in April from 48.9 in the previous month. But, any reading below 50 indicates contraction in the sector. The latest reading wast the highest in three months.
Output in the private sector dropped further in April, continuing the trend observed since 2013. The rate of decline marked the weakest since January.
New business also decreased at the slowest pace in three months, partly reflective of new export orders having broadly stabilised following a recent downturn.
The lower intakes of new business in April was due to weakening demand amid ongoing political and security issues.
Employment level in the Lebanese private sector fell for the second straight month in April and the rate of decline was slightly faster than March.
On the price front, input prices remained unchanged in April, while output prices dropped marginally during the same month.
The material has been provided by InstaForex Company – www.instaforex.com