Private sector economy
shrinks as cash dwindles

The National

Lebanon’s private sector economy continued to contract in June as both output and new orders fell at a quicker pace, putting more pressure on an economy that has faced months of turmoil.

The BLOM Lebanon PMI index, which measures the strength of the private sector economy, fell to 47.5 in June, from 47.9 in May. A reading above the neutral 50 mark indicates economic expansion while one below points to contraction.

The continued decline in value of the Lebanese pound and "poor cash availability" also weakened activity. FULL STORY