Cityscape in Egypt

Egypt PMI January 2024

Egypt: PMI slides deeper into negative territory in January

The S&P Global Egypt Purchasing Managers’ Index (PMI), which measures business activity in the non-oil private sector, fell to 48.1 in January from 48.5 in December. As a result, the index moved further below the 50.0 no-change threshold—where it has been since December 2020—signaling a faster deterioration in non-oil private-sector operating conditions compared to the previous month.

January’s downturn chiefly reflected a significant drop in new orders—the sharpest in eight months—and output, as rising inflationary pressures dampened client demand. Moreover, geopolitical tensions and regional instability have hurt tourism activity. Meanwhile, employment was largely unchanged from the prior month.

Turning to prices, input and output inflation both accelerated to one-year highs, driven by higher prices for fuel and iron amid a weak Egyptian pound and ongoing import issues. Lastly, business expectations weakened to one of the lowest values in the series’ history.

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