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Private business activity contracted for the 16th month in a row in October but at a slower rate than September, according to BLOM's Purchasing Managers' Index released Wednesday.The BLOM PMI index, compiled by data firm Markit, registered the slightest rate of contraction in four months but remained below the critical 50 threshold at 48.8 points, up from 47.6 in September.Lebanese companies participating in the monthly survey reported slower demand as a result of the unstable security situation in north Lebanon but the rate of deterioration in their output was the slowest since June, the survey showed.The New Orders Index stood at 47.5 in October compared to 44.3 in September while the Output Index registered 47.1 in October compared to 45.6 in September.
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