03 Aug 2021

According to the latest PMI report from IHS Markit, Egypt’s PMI (Purchasing Managers’ Index) fell to 49.1 in July 2021 from 49.9 in June 2021. Despite the small decline in the overall score, employment grew for the first time since October 2019. As input price inflation dropped to a four month low, cost pressures from raw material prices, fuel costs, and wages were softer. On the other hand, output and new orders fell into the contraction zone, although their rate of decline over the last few months was less severe than the period between March-May 2020.

The survey respondents said that despite the relatively cautious domestic spending, foreign orders increased in a sustained and solid manner. 51% of the respondents expected business activity to increase within the coming twelve months.

(Source: IHS Markit (English), Zawya (English), al-Ahram (English), Amwal al-Ghad, Mubasher, Hapi Journal, , al-Watan, al-Arabiya)