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· IHS Markit Egypt Purchasing Managers’ IndexTM (PMI) recorded 47.7 in April, down from 48 in March. This is the lowest reading since June 2020, marking a moderate deterioration in the health of the non-oil economy
· According to IHS Markit, one of the main contributors to the PMI, the Output Index, signaled a fifth successive monthly fall in business activity in April
· This coincides with a further decline in new business inflows. The level of new export orders received by Egyptian firms increased solidly during April
IHS Markit Egypt Purchasing Managers’ IndexTM (PMI) recorded 47.7 in April, down from 48 in March. This is the lowest reading since June 2020, marking a moderate deterioration in the health of the non-oil economy.
According to IHS Markit, one of the main contributors to the PMI, the Output Index, signaled a fifth successive monthly fall in business activity in April. This coincides with a further decline in new business inflows. The level of new export orders received by Egyptian firms increased solidly during April. This is linked to an improvement in activity across foreign markets. The drop in total sales indicated a decrease in overall workloads at the start of the second quarter.
Business activity in the Egyptian non-oil sector was further dampened by weak client orders in April. This is the fifth consecutive month of decline leading to an additional cut to employment numbers.
