Business conditions:
Softest decline in
seven months

msn

Lebanon's private sector shrunk at a softer pace in January with business conditions hitting a seven-month high due to a slower decline in output and new orders.

The Blom Lebanon PMI, which measures operating conditions in the country's private sector, rose to 47.1 in January, up from 46.7 in December, and its highest mark since last June. However, it remained below the 50.0 mark that separates growth from contraction.

Political and economic uncertainty coupled with the high cost of US dollars weighed on consumer demand and raised operating costs. FULL STORY