Egypt PMI

Egypt

Egypt: PMI picks up in December

January 6, 2015

The HSBC Egypt Purchasing Managers’ Index (PMI) picked up from 50.7 in November to 51.4 in December. The result marked the first improvement in the index in the last three months. In addition, the PMI moved further above the 50-threshold that separates expansion from contraction in the non-oil producing private sector.

December’s result reflects stronger expansion of output and new orders. On a negative note, employment dropped in December for the first time in four months. HSBC analysts noted that, “Egypt is yet to regain momentum but a fifth consecutive score above 50.0 reinforces our view that the economy continues to stabilise. We look for a pickup in growth in 2015, albeit off a low base.”

FocusEconomics Consensus Forecast participants expect GDP to expand 3.3% in 2015, which is unchanged over last month’s projection. For 2016, the panel sees the economy increasing 3.9%.


Author:, Head of Data Solutions

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Egypt PMI December 2014

Note: HSBC Purchasing Managers’ Index. Readings above 50 indicate an improvement in non-oil business conditions while readings below 50 indicate a deterioration.
Source: HSBC and Markit.


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