Egypt’s Ministry of Planning reviews the results of the PMI report for August 2021

Purchasing Managers' Index (PMI) for Egypt rose in August to record 49.8 points, compared to 49.1 points last July: Says Hala El-Said

Hala El-Said, Minister of Planning and Economic Development, said that the Purchasing Managers' Index (PMI) for Egypt rose during August 2021 to record 49.8 points, compared to 49.1 points last July.This is thanks to the recovery in the levels of domestic demand and the record expansion in the purchasing activity of the sector companies, in addition to the growth of new orders for the second time in three months; This reinforced the rise in the sub-indices of production and employment and the increase in the level of expectations for the growth of production activity during the next year.



El-Said asserted that the renewed rise in production and new orders was reflected in the increase in the sub-indices, as both of these indicators recorded above the long-term average for the fourth consecutive month.This provided an additional indication that the Egyptian economy is witnessing the second phase of recovery from the epidemic after the initial recovery at the end of 2020.El-Said indicated that Egypt was able to be among the few countries that achieved an increase in the recent results of the index despite the trend of the global slowdown in industrial production, which proves the resilience of the Egyptian economy and its ability to deal with shocks.El-Said asserted that the initial indicators indicate that the growth rate achieved a significant jump during the last quarter of 20/2021 to reach 7.7%, so the state is working with the awareness of the need to continue the efforts that drive economic activity and the production wheel during the Covid-19 crisis through expansion projects in various economic sectors.El-Said explained that the International Monetary Fund had indicated that Egypt was one of the few emerging market countries that achieved a positive growth rate during 2020.The agency "Fitch Solutions" also praised the ability of the Egyptian economy to withstand the pandemic and considered it a bright spot among the economies of the Middle East and North Africa region.It is noteworthy that the Purchasing Managers' Index (PMI) is a monthly economic indicator that is calculated from surveys of private sector companies that do not work in the oil sector, and it reflects the performance of about 400 non-oil-producing private sector companies and includes the industrial, construction, services, retail and wholesale sectors. El-Said explained that this indicator is considered one of the important economic measures, as companies, investors and financial institutions depend on it to determine the degree of activity of the economy in general and the non-oil-producing private sector in particular.