CAIRO – 6 May 2021: IHS Markit Egypt Purchasing Managers’ IndexTM (PMI) recorded 47.7 in April, down from 48 in March, registering the lowest reading since June 2020. According to IHS Markit, one of the main contributors to the PMI, the Output Index, signaled a fifth successive monthly fall in business activity in April, coinciding with a further decline in new business inflows. This allowed firms to clear backlogs, and employment levels fell at the quickest rate for four months,” it added. "On a positive note, there was a renewed increase in new export orders as external client demand picked up. “A recent rise in domestic cases and concerns about financial liquidity meant that fewer businesses were optimistic of a rise in output over the next 12 months.

Source: Egypt Today May 06, 2021 15:30 UTC