Emirates National Bank of Dubai (NBD)-Egypt stated that the Egyptian economy is moving towards stability after reaching its lowest level during the last quarter of 2016. It reinforces the perception that after bottoming out in Q4 2016, the economic situation in Egypt is beginning to stabilise. The main PMI index of Egypt’s rose to the highest level in nine months, recording 47.4 points in April, up from 45.9 points recorded in March. The NBD’s main PMI index of Egypt is based on the data collected from monthly responses to questionnaires sent to purchases executives in more than 450 private sector companies. Those companies have been carefully selected to represent the true structure of Egyptian non-oil producing economy, including manufacturing, services, construction, and retail.

Source: Daily News Egypt May 03, 2017 17:37 UTC