Egypt’s PMI Remains Above Neutral for Third Consecutive Month; Reflects Economy’s Recovery: Finance Minister

Egypt’s Minister of Finance Mohamed Maait has stated that the country’s economy is recovering, and production is being restored, as evidenced by the Purchasing Managers’ Index (PMI), which measures the performance of the 400 largest private sector companies.

According to media reports, Egypt’s PMI scored 50.9 points in November 2020, remaining above the neutral level of 50 points, which marks the difference between growth and contraction. This is the third consecutive month that Egypt’s PMI has remained above neutral, following 51.4 points reported in October 2020 and 50.4 points recorded in September 2020.

According to Maait, this indicates an improvement in the private sector’s confidence in Egypt’s economic performance, an...