03 Jun 2021

Market Economics’ Index PMI for May 2021 for Egypt rose to 48.6 from 47.7 in April 2021 and 40.7 in May 2020. The PMI (Purchasing Managers’ Index) aims to capture non-oil private sector activity through a survey of businesses, with a reading above 50 indicating expansion and vice versa.

While activity has been contracting for the last six months, the rate of contraction in May 2021 was the lowest in three months. Despite weak consumer demand due to Covid, export orders increased significantly. In the survey, businesses were the most optimistic since early 2018, and expected an imminent strong recovery in business conditions. (Source: Zawya (English), Mubasher (English) (Arabic), Trading Economics (English))