CAIRO – 5 April 2021: IHS Markit Egypt Purchasing Managers’ IndexTM (PMI) recorded a decline for the first time in three months, registering 48 in February, up from 49.3 in February. According to IHS Markit, this decline signaled a modest deterioration in the health of the sector. Client demand remained subdued as new order inflows fell solidly, whilst export sales dropped for the first time in three months. Consequently, employment, backlogs and input purchases fell further, although this helped to soften cost inflationary pressures,” Economist at IHS Markit, David Owen, said. Meanwhile, export sales were down for the first time in three months, albeit following a survey-record upturn.

Source: Egypt Today April 05, 2021 14:48 UTC