Egypt’s PMI April reading released this morning still points to the disrupted momentum facing the private sector in Egypt as downward risks dominate the scene. The private sector PMI index fell further in April and remained in the contraction territory for the fifth consecutive month. The contraction in activity accelerated as the headline PMI index fell to 47.7 in April 2021, down from 48 in March 2021. The reading came at a time of growing pandemic-related uncertainties driven by a continuous surge in infected cases and a slower-than-expected vaccination roll-out, which drove the government to instate new partial lockdown measures for two weeks.
Mona Bedeir
Senior Economist
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