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- IHS Markit Egypt Purchasing Managers’ IndexTM (PMI) declined to 49.1 in July, down from 49.9 in June, indicating marginal contraction of the economic activities
- This is due to, among other things, a slight deterioration in the health of the non-oil sector. The Egyptian jobs market expanded in July
- There has been a rise in employment for the first time since October 2019 and an increase in new orders during June
IHS Markit Egypt Purchasing Managers’ IndexTM (PMI) declined to 49.1 in July, down from 49.9 in June, indicating marginal contraction of the economic activities.
This is due to, among other things, a slight deterioration in the health of the non-oil sector. The Egyptian jobs market expanded in July. There has been a rise in employment for the first time since October 2019 and an increase in new orders during June.
Yet, demand declined over the latest period as some customers remained reluctant to spend amid the continued impact of the pandemic. Rising raw material prices, fuel costs and employee wages induced cost pressures were lesser in force in July. The input price inflation eased to a four-month low.
The output and new orders Indices fell back below the 50.0 neutral mark in July, as output and demand fell for the seventh time in eight months. This means that rates of declines were less marked than those observed between March and May and during the first half of 2020.
