BLOM Lebanon PMI October 2021: Output and new orders slip further into decline in October

Dr. Ali Bolbol, Chief Economist/Head of Research at BLOM Bank, commented on the BLOM Lebanon PMI for October 2021 as follows:
"The BLOM Lebanon PMI for October 2021 was not supposed to fall to 46.6, as the formation of a new consensual government and the beginning of serious negotiations with the IMF should have been a confidence booster. But, alas, this is Lebanon, and bad news and events have a way of clawing back to spoil the scene, as the unfortunate events of 14 October amply demonstrated. And not surprisingly, all the PMI sub-indices behaved badly, with the exception of employment. In consequence, the country needs plenty of good luck and sound, determined work by the new government to reverse these dismal trends, and an elevation of economic priorities over all other concerns."

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