Cityscape in Egypt

Egypt PMI May 2020

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

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.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest