CAIRO – 3 August 2021: IHS Markit Egypt Purchasing Managers’ IndexTM (PMI) declined to 49.1 in July, down from 49.9 in June. The latest reading pointed to a slight deterioration in the health of the non-oil sector, and one that was softer than the series trend. According to PMI™ survey data, the Egyptian jobs market moved into expansion mode in July, as the data indicated a rise in employment for the first time since October 2019. However, demand receded over the latest period as some customers remained reluctant to spend amid the continued impact of the pandemic. Many businesses are now eager to boost capacity, particularly as new order growth recorded in June led to a modest pile-up of outstanding work in the latest survey period,” Economist at IHS Markit, David Owen, said.
