03 Nov 2021

IHS Markit’s Egypt PMI (Purchasing Managers’ Index) decreased slightly in October 2021 to 48.7, from 48.9 in September 2021. The slowdown in the recovery of business activity was attributed to global supply chain problems that led to shortages in inventories and reductions in output. Another consequence of the global supply chain disruptions, which is being witnessed by economies worldwide including Egypt, is a rapidly escalating rise in the purchasing costs of production inputs. This consequently led to rising selling prices as well, with inflation across-the-board expected to endure for at least the coming few months. Despite all that, October’s PMI remains above Egypt’s historical average score. Moreover, employment levels rose to their highest in 2 years, reflecting a labour market that is strengthening further.

(Source: IHS Markit (English), Reuters (English), Mubasher (English) (Arabic), Zawya (English), al-Ahram (English), Amwal al-Ghad, Hapi Journal, Economy Plus Me, CNBC Arabia)