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Lebanon s private sector shrunk at a slower pace in April, with business conditions hitting an 18-month high due to a slower decline in output and new orders.
The Blom Lebanon PMI, which measures operating conditions in the Lebanese private sector, rose to 47.1 in April from 46.4 in March, but remained below the 50.0 mark that separates growth from contraction.
The PMI reading was driven mainly by slower contractions in output and new orders, with rates of decline easing to the slowest since October 2019 in both cases. The index was also helped by the easing of higher input and output cost burdens due to a weaker exchange rate coercing inflation upwards. Additionally, employment appears to have stabilised with wages registering a marginal decline, according to the survey.