A man talks on his mobile phone as he walks past the sign of the BLOM BANK in the Lebanese capital Beirut on June 13, 2016. AFP/PATRICK BAZ
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Lebanon's private sector continued to reel under the severe economic slowdown as output and new order of goods by companies declined, according to BLOM PMI for the month of August.Headline PMI fell to 45 from 45.5 recorded in July 2016, signifying a slightly faster deterioration in business conditions".He added that all subindices performed badly, with the sharpest declines registered for output and new orders. The report explained that private sector companies recorded a drop in business activity in August, in line with the trend observed in each month since June 2013 .It also noted a decline in other business activities such as hiring new staff members in companies.
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