Cityscape in Egypt

Egypt PMI October 2019

Egypt: Non-oil private sector PMI decreases in October

The Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, decreased to 49.2 in October from 49.5 in September. The PMI therefore remained below the 50-threshold that separates contraction from expansion for the third month in a row.

Output of non-oil private businesses decreased in October at a slightly faster pace than in September. This was partly due to the fastest drop in new orders since May; the first decrease in new orders from abroad in four months contributed to this. On the employment front, businesses increased headcounts marginally for the third month running in October. Responding to circumstances, firms cut back on input buying in October at the most significant pace since March, leading to only a marginal increase in stock levels. In terms of prices, output price inflation was minimal in October, while input price inflation slowed to the lowest rate since June. Regarding the outlook, business sentiment improved from September’s near three-year low, with 48% of survey respondents expecting output to increase in the next 12 months.

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