Beams of light illuminate through a cloudy sky: The PMI index bounced back up in August to near expansion territory to 49.8, after retreating in July to 49.1 from 49.9 in June, this year. The reading turned positive as the private sector activity sent out rebound signals despite the growing risks of the Delta variant spreading and the fourth wave of COVID-19 roaring, while the global PMI is evidently slow, especially in Asia and China. These risks continue to fuel domestic inflationary pressures through their impact on raw and input materials and shipping costs.
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Mona Bedeir
Chief Economist
T +202 3300 5722