Egypt moved up among the top Middle East countries in the global Manufacturing PMI rankings.
Cairo- Sep 27, 2018 Latest data issued by IHS Markit showed that Egypt’s Manufacturing PMI index grew to 50.50 in August, the fastest since September 2015 and the first time ever since that two consecutive months have returned positive readings, suggesting that Egypt’s non-oil private sector is beginning to recover.
According to Markit, the improvement was driven by new orders rising for the second consecutive month in August and greater inflows of new work; the rate of employment growth being the highest since April 2011.
Egypt moved up among the top Middle East countries in the global Manufacturing PMI rankings, right after Saudi Arabia (55.1 points) and the UAE (55 points); doing much better than Turkey (46.6 points) and Lebanon (45.6 points).
The Manufacturing PMI Index is based on data compiled from monthly replies to questionnaires by over 400 private sector companies, carefully selected to accurately represent the true structure of the Egyptian non-oil economy, including: manufacturing, services, construction and retail.