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Sep. 04, 2014 | 12:08 AM

Insecurity takes toll on business activity

Elias Sakr| The Daily Star

A version of this article appeared in the print edition of The Daily Star on September 04, 2014, on page 5.

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Summary

Lebanon's deteriorating security situation led in August to the sharpest fall in private sector business activity in six months, a survey showed Wednesday.

August data signaled a sharper fall in output, new orders and employment compared to July.

The output and new orders indexes dropped respectively to 42.7 and 42.1, compared to 46.2 and 46 in July, while the employment index fell to 49.1, from 49.9 a month earlier.

The PMI composite index is calculated as a weighted average of five components: new orders (30 percent), output (25 percent), employment (20 percent), suppliers' delivery times (15 percent) and stocks of purchases (10 percent).