CAIRO – 8 May 2022: Egypt Purchasing Managers’ IndexTM (PMI) recorded 46.9 in April, up from 46.5 in March. It noted that the index signaled a solid deterioration in business conditions that was the second-fastest since June 2020. According to the data, non-oil business activity also decreased sharply in April. Construction was the only bright spot as PMI data suggested that activity and new work had increased for the first time in 2022 so far. Subsequently, some firms reported leaving open job positions vacant, leading to a drop in employment levels that was the quickest seen in exactly one year, the data noted.

Source: Libya Today May 08, 2022 09:41 UTC