Egypt/ PMI November 2020 reading
Non-oil private sector activity fell in November but remained in expansion territory: After registering its highest reading since April 2019 in October, the private sector PMI index recovery eased in November. The headline PMI index eased to 50.9 vs. 51.4 in October, as growth in both output and new orders slowed in November. The reading came to reflect the effect of three factors on private business economic activity: (1) the second-wave effect that triggered a new partial lockdown around the world, (2) the continuous increased in infection rates domestically and the growing risk of reinstating partial lockdown measures, and (3) the long-lasting effect of the COVID-19 crisis on labor market dynamics amid continued spare capacity in the economy.
Mona Bedeir
Senior Economist
Tel.: +202 3300 5722