04 Jan 2022
Egypt’s non-oil PMI (Purchasing Managers’ Index; compiled by Markit Economics) rose in December 2021 to 49.0 versus 48.7 in November 2021. The key drivers for the positive increase were an easing of inflationary pressures, with prices for both inputs and outputs rising at slower rates, as well as a more stable environment of business activity.
Monthly inflation dropped at the fastest rate in over 3 years. Surges in global commodity prices eased, thereby reducing the impact of raw material costs on firms. Furthermore, export orders increased steeply, growing at the fastest rate since February 2021. On top of that, tourism has been gradually and solidly recovering, spurring an array of new business activities. On the other hand, the PMI was held back by unenthusiastic domestic demand mainly due to higher selling prices. It is worthy to note that Egypt’s PMI remains above its ≈10 year long-run average of 48.2.
(Source: Markit Economics (English) (Arabic), Reuters (English), Mubasher (English) (Arabic), Zawya (English), al-Ahram (English), Egypt Today (English), Amwal al-Ghad, Hapi Journal, Economy Plus Me, al-Shurouk, Masrawy, CNBC Arabia, al-Sharq Business, al-Sharq al-Awsat, al-Arabiya)