S&P raises Egypt’s PMI score to 47.8 in May, its highest since Feb 2022

Egypt’s PMI (Purchasing Manager’s Index) witnessed a slight climb in May to reach 47.8 from April’s 47.3. This is the second time S&P has raised Egypt’s PMI and is its highest rating since February 2022.

The recording is lower than the 50 mark, which indicates growth.

"The Egypt PMI remained in negative territory in May, but showed further promise that current economic headwinds were beginning to dissipate,” explained David Owen, Senior Economist at S&P Global Market Intelligence, in the report. “The headline index rose for the second month running to 47.8, while the two main sub-indices of Output and New Orders rose to their highest levels in 17 and seven months, respectively.”