PMI Rises to 48.1 in February 2022

Giving More to Your Wealth
03 Mar 2022

Egypt’s PMI (Purchasing Managers’ Index; compiled by IHS Markit) has risen to 48.1 in February 2022, up from 47.9 in January 2022. The score is still below 50, meaning in contraction territory. Demand was inhibited in February due to pandemic-induced price pressures, resulting in drops in new orders, output, purchases, employment, along with business confidence. On the bright side, rises in input costs and output prices were slower than before, and the decline in output was more moderate than in January. Companies voiced their worries that the pandemic’s negative economic effects might persist in 2022 longer than previously anticipated.

(Source: IHS Markit (English) (Arabic), Reuters (English), Egypt Today (English), Mubasher, Hapi Journal, Economy Plus Me, al-Youm al-Saabe, al-Masry al-Youm, Masrawy, al-Sharq Business, CNBC Arabia, al-Arabiya, MSN)

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