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The ongoing poor performance of Lebanon's private sector was clearly reflected in November's low PMI grading, the BLOMINVEST PMI report said Wednesday, though it represented the slowest rate of slowdown for nine months.The PMI is a composite index, calculated as a weighted average of five individual subcomponents: new orders (30 percent), output (25 percent), employment (20 percent), suppliers' delivery times (15 percent) and stocks of purchases (10 percent). It is important for these slower declines to gather more strength, and for PMI to reach and surpass the 50 mark, he added.The report said challenging conditions continued to impact the labor market, as private sector firms made further job cuts in November.
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