Lebanon private sector activity falls to 7-month low as output and new orders decline

Lebanon's private sector experiences a decline in business conditions in August, with the purchasing managers' index falling to a seven-month low, as output and new orders decrease amid the country's ongoing economic crisis.

thenationalnews.com

Relevant topic timeline:

8/23/2023

Germany August flash manufacturing PMI 39.1 vs 38.7 expected

German business activity, particularly in the services sector, experienced its sharpest decline since May 2020, leading to concerns about the country's outlook for the remainder of the year and potential stagflation, as both manufacturing and services sectors are contracting.

8/23/2023

Germany's economy hasn't looked this weak since the start of the pandemic

Germany's business activity has seen a sharp decline, leading to concerns of a recession, as the country's Purchasing Managers' Index (PMI) dipped to its lowest level in over three years. This decline in activity is impacting the wider eurozone economy as well, with the region at risk of slipping into recession. This economic downturn is accompanied by a worrying uptick in inflation and slow growth, particularly in Germany.

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OPS fears job losses as economic growth slows to 2.31%

The Organised Private Sector is concerned about potential job losses in Nigeria's economy following a decline in GDP growth in the second quarter of 2023, with manufacturers already cutting jobs and divesting from the country.

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Saudi foreign reserves plunge by most since pandemic to 2009 low

Saudi Arabia experienced a sharp decline in its foreign reserves, with a drop of over $16 billion last month, marking the largest decrease since the negative oil prices during the pandemic as the country invested in US stocks using its savings.

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UK PMI survey shows sharpest business slowdown in 7 months

Business activity in Britain's services sector declined in August, the first drop since January, due to higher interest rates dampening consumer and corporate demand, although the decrease was less severe than initially estimated.

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Column: Prolonged US manufacturing slowdown barely dents energy use

U.S. manufacturers reported a decline in business activity for the 10th consecutive month in August, but the declines are becoming less widespread, suggesting that the trough in the cycle may be approaching.

Topics

Posted 9/5/2023, 10:49:35 AM

Lebanon private sector activity falls to 7-month low as output and new orders decline

thenationalnews.com

Relevant topic timeline:

8/23/2023

Germany August flash manufacturing PMI 39.1 vs 38.7 expected

8/23/2023

Germany's economy hasn't looked this weak since the start of the pandemic

8/26/2023

OPS fears job losses as economic growth slows to 2.31%

8/29/2023

Saudi foreign reserves plunge by most since pandemic to 2009 low

9/5/2023

UK PMI survey shows sharpest business slowdown in 7 months

9/5/2023

Column: Prolonged US manufacturing slowdown barely dents energy use