Egypt PMI September 2021

Egypt

Egypt: PMI falls in September; conditions continue to deteriorate

October 5, 2021

The IHS Markit Purchasing Managers’ Index (PMI)—which measures business activity in the non-oil private sector—dropped to a four-month low of 48.9 in September from August’s 49.8. As such, the index fell further below the 50-threshold for the tenth consecutive month, signaling a quicker overall deterioration of business operating conditions compared to the previous month.

September’s deterioration came amid weak economic conditions and a downtick in demand, leading to a marginal decline in both output and new orders. Moreover, exports dropped sharply in September, and for the first time in six months. More positively, firms’ optimism regarding activity in the year ahead climbed to the highest level recorded in the series history. Sentiment was supported by the quickening vaccination drive and the easing of traveling restrictions, which should support the tourism industry. Additionally, thanks to heightened optimism, firms increased staff levels in September for the third month running. Turning to prices, input costs increased again, with the inflation rate clocking in at a near three-year high in September and only some first passed rising costs to clients.

FocusEconomics panelists expect total investment to expand 10.6% in FY 2022, which is down 0.3 percentage points from last month’s forecast, and surge 10.3% in FY 2023.


Author:, Junior Economist

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Egypt PMI September 2021

Note: Purchasing Managers’ Index. Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: IHS Markit.


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