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Planning: PMI rose last May after 5 months of decline

Dr. Hala Al-Saeed, Minister of Planning and Economic Development, announced the rise in the purchasing managers’ index in Egypt for the month of May 2021, after five months of decline, as the index recorded 48.6 points, compared to 47.7 points last April, indicating the relative improvement in market conditions during last May.


The Minister of Planning also indicated that the export orders index rose strongly during last May, as well as sales approaching the level of stability. This indicates a relative recovery in the conditions of the non-oil economy.


Hala Al-Saeed stressed the importance of the Purchasing Managers' Index as one of the important economic measures that companies, investors and financial institutions rely on to identify the degree of activity of the economy in general and the non-oil private sector in particular.


The Minister of Planning and Economic Development referred to the expectations of the International Monetary Fund for the Egyptian economy; Which saw that the Egyptian economy showed its resilience while mitigating the impact of the Covid-19 crisis through the authorities’ quick and balanced response at the policy level, noting that the growth rate is expected to reach 2.8% in the fiscal year 20/2021, rising to 5.2% during the next fiscal year. 21/2022.


It is noteworthy that the Purchasing Managers' Index is a monthly economic indicator that is calculated from surveys of private sector companies that do not operate in the oil sector in Egypt. The index is issued to reflect the performance of about 400 non-oil-producing private sector companies and includes the industrial, construction, services, retail, and sales sectors. wholesale.