Egypt PMI May 2020

Egypt

Egypt: Egypt PMI rebounds in May but remains in contraction territory

June 3, 2020

Egypt’s Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, rebounded to 40.7 in May from 29.7 in April, which had marked the lowest reading since the current survey began in April 2011 and reflected the effects of Egypt’s first full month with new social distancing measures in place aimed at reducing the spread of coronavirus. Readings below 50 indicate an overall decrease compared to the previous month.

Commenting on the PMI reading, David Owen, economist at IHS Markit, said: “The Egypt PMI rose 11 points to 40.7 in May, which, while signaling that the worst of the economic hit from the Covid-19 crisis may have passed, still pointed to weaker business conditions since April. Output and new orders fell again as private sector demand remained broadly stagnant. Export sales were also weak. In addition, job losses accelerated to the quickest pace in over three years.”

In terms of prices, input prices increased only modestly in May, while output charges fell for the seventh month running. On the outlook, Owen reflected: “Sentiment was still positive, though concerns arose that the US/China relationship is worsening, which could affect any rebound in global demand.”

Our panelists expect total investment to fall 5.1% in FY 2020, which is down 7.3 percentage points from last month’s forecast, before rising 5.9% in FY 2021.


Author:, Economist

Sample Report

Looking for forecasts related to PMI in Egypt? Download a sample report now.

Download

Egypt PMI Chart


Egypt PMI May 20 20

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


Egypt Economic News

  • Egypt: Egypt PMI marches towards recovery in July

    August 5, 2020

    Egypt’s Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, rose to 49.6 in July from 44.6 in June, marking a further recovery from the 29.7 reading in April, which remains the lowest point on record since the current survey began in April 2011 and reflected the effects of Egypt’s first full month with strict coronavirus restrictions.

    Read more

  • Egypt: Inflation accelerates in June

    July 9, 2020

    Consumer prices increased 0.08% in June over the last month, contrasting the 0.02% drop logged in May.

    Read more

  • Egypt: Egypt PMI continues gradual recovery in June

    July 6, 2020

    Egypt’s Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, rose to 44.6 in June from 40.7 in May and marked a further recovery from the 29.7 reading in April, which remains the lowest on record since the current survey began in April 2011 and reflected the effects of Egypt’s first full month with strict coronavirus restrictions.

    Read more

  • Egypt: Central Bank leaves rates unchanged at June meeting

    June 25, 2020

    At its scheduled monetary policy meeting on 25 June, the Central Bank of Egypt (CBE) left the overnight deposit, overnight lending, and main operation rates unchanged at 9.25%, 10.25% and 9.75%, respectively, as expected by most market analysts. The decision to keep rates unchanged in June came despite inflation slowing to 4.7% in May, which was down from 5.9% in April, the lowest reading in six months and further clear of the CBE’s Q4 CY 2020 target range of 6.0% to 12.0%.

    Read more

  • Egypt: Inflation slows in May, falling further below Central Bank target range

    June 10, 2020

    Consumer prices were broadly unchanged in May compared to the previous month, after increasing 1.3% in April.

    Read more

More news

Search form