PM Reviews PMI Report Of Oct. 2020Source: www.export-egypt.com 11/3/2020, Location: Africa |
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Prime Minister Moustafa Madbouli has reviewed a report on the Egyptian Purchasing Managers’ Index (PMI) during October 2020.
The PMI has moved up to 51.4 points in October compared with 50.4 points in September, said chairman of the Cabinet’s Information and Decision Support Center (IDSC) Osmaa el Gohary . Non-oil activities have expanded during the month of October, the report indicated, adding that companies could also enhance production capacity better than earlier in 2020. The private sector’s non-oil index showed a record growth rate in October 2020; the highest reading since late 2014, Gohary said, pointing to an increase in both output and new orders for the second month in a row. The report attributed the improvement in the PMI of Egypt’s non-oil private sector to a rise of four of its sub-indicators during the month of October: the production indicator went up to 53.4 points from 51.0 in September, the new orders indicator reached 53.6 points up from 51.9 points in September, the inventory of purchases indicator upped to 51.2 points from 50.1 points in September, and the delivery indicator reached 51.2 points from 50.8 points in September. New orders rose to the fastest pace in over six years thanks to higher sales in the domestic market and a strong increase in new export business, the report noted. |
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