Business activity falls at sharpest rate for three months in Lebanon
The headline figure derived from the survey is the Purchasing Managers’ Index (PMI).
The PMI is a composite index, calculated as a weighted average of five individual sub-components: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%).
Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.
Business conditions worsened across Lebanon’s private sector at the end of the first quarter.
March saw the headline BLOM Lebanon PMI move further into contraction territory to 46.5, down from a ten-month high of 47.3 in February.
The quarterly average was nonetheless slightly higher than that seen for the final three months of 2017. ■