Egypt PMI contracts in June at fastest in two years as prices rise



CAIRO, July 6 (Reuters) - Non-oil private sector activity in Egypt dropped in June to its lowest level in two years as inflation, a weaker currency and shortages of materials bit into demand, a survey showed on Wednesday.

The S&P Global Egypt Purchasing Managers' Index (PMI) weakened to 45.2 from May's 47.0, well below the 50.0 threshold that separates growth from contraction. June was the PMI's 19th month of contraction.

"The Egyptian non-oil economy saw its weakest performance in exactly two years in June, as businesses saw demand slump in the face of sharply rising prices, a devalued pound and material shortfalls," S&P Global said.

"The reading was the lowest recorded since June 2020 during the first wave of the COVID-19 pandemic."

The manufacturing and wholesale and retail sectors were particularly badly hit, S&P said.

Headline inflation rose to 13.5% in May from 13.1% in June.

The sub-index for overall input prices surged to 72.0 from 62.1 in May, while that for purchase costs rose to 70.9 from 62.3.

"Supply conditions also remained weak and added to inflationary pressures, as firms signalled that raw material supplies were becoming increasingly difficult to secure," said S&P Global economist David Owen.

Output and new orders in June extended a contraction that has lasted nearly a year, with the output index, at 41.3, worsening from May's 45 and the index for new orders dropping to 41.9 from 44.6.

The sub-index for future output expectations improved to 63.7, a five-month high, from 55.2 in May, when it was close to its lowest reading since the survey first included the category 10 years ago.
Reporting by Patrick Werr; Editing by Catherine Evans

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明