{"id":544469,"date":"2022-03-06T03:35:12","date_gmt":"2022-03-06T03:35:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/"},"modified":"2022-03-06T03:35:12","modified_gmt":"2022-03-06T03:35:12","slug":"pmi-says-youre-not-optimistic-but-our-survey-said-you-are","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/","title":{"rendered":"PMI says you\u2019re not optimistic, but our survey said you are\u2026"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Non-oil business activity in Egypt saw a \u201csolid decline\u201d in February <\/strong>as inflationary pressures continued to impact business confidence and demand, according to IHS Markit\u2019s <a href=\"https:\/\/ent.news\/2022\/3\/PMI-Feb-2022.pdf\">purchasing managers\u2019 index (PMI) survey (pdf)<\/a>. The contraction eased slightly to 48.1 from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a533fba9-e013-44ee-8bd9-ad967da1c1e5\">47.9 in January<\/a> but concerns about economic conditions sent confidence levels to the lowest in the survey\u2019s history.<\/p>\n<p><strong>This is the 15th consecutive month that Egypt\u2019s private sector has been in contraction<\/strong> since the two months\u2019 of growth in September and October 2020.<\/p>\n<p><strong>What they said: <\/strong>\u201cThe pandemic-led surge in input prices and the omicron wave continued to derail Egypt's recovery in the first quarter of 2022,\u201d said David Owen, IHS Markit economist. \u201cOutput, new business, employment and purchases were all down.\u201d<\/p>\n<p><strong>Confidence is at an all-time low: <\/strong>\u201cOverall confidence fell to its lowest level in the series history, with just 11% of firms reporting a positive outlook for the upcoming year,\u201d said Owen. That\u2019s in stark contrast to our Enterprise 2022 reader poll taken at the start of the year, when most of you were pretty <a href=\"https:\/\/enterprise.press\/2022\/01\/23\/enterprise-2022-reader-poll-results\/\">optimistic about doing business in Egypt in 2022<\/a>.<\/p>\n<p><strong>ELSEWHERE IN THE REGION- <\/strong>The UAE and Saudi Arabia both recorded strong growth in the non-oil private sector in February, as rising demand and confidence levels buoyed activity. The <a href=\"https:\/\/ent.news\/2022\/3\/PMI-Feb-2022-UAE.pdf\">UAE\u2019s PMI (pdf)<\/a> rose to 54.8 in February from 54.1 in January as output levels rose and growing confidence saw input purchases hit their highest level since 2019. Meanwhile, <a href=\"https:\/\/ent.news\/2022\/3\/PMI-Feb-2022-KSA.pdf\">KSA<\/a><a href=\"https:\/\/ent.news\/2022\/3\/PMI-Feb-2022-KSA.pdf\">\u2019s PMI (pdf)<\/a> rose to 56.2 in February from 53.2 in January, with purchasing growth hitting a 33-month high.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Non-oil business activity in Egypt saw a \u201csolid decline\u201d in February as inflationary pressures continued to impact business confidence and demand, according to IHS Markit\u2019s purchasing managers\u2019 index (PMI) survey (pdf). The contraction eased slightly to 48.1 from 47.9 in January but concerns about economic conditions sent confidence levels to the lowest in the survey\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":544470,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,182,185,219,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-inflation","tag-pmi","tag-saudi-arabia","tag-uae","wpautop","entry"],"acf":{"mongo_id":"124abd35-26de-4a5e-a7bc-32ac6905fc1f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/54.png","photo_position":"above","related_issue":[544461],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PMI says you\u2019re not optimistic, but our survey said you are\u2026 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PMI says you\u2019re not optimistic, but our survey said you are\u2026\" \/>\n<meta property=\"og:description\" content=\"Non-oil business activity in Egypt saw a \u201csolid decline\u201d in February as inflationary pressures continued to impact business confidence and demand, according to IHS Markit\u2019s purchasing managers\u2019 index (PMI) survey (pdf). The contraction eased slightly to 48.1 from 47.9 in January but concerns about economic conditions sent confidence levels to the lowest in the survey\u2019s [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-06T03:35:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/54.png?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"PMI says you\u2019re not optimistic, but our survey said you are\u2026\",\"datePublished\":\"2022-03-06T03:35:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/\"},\"wordCount\":267,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/54.png?fit=%2C&ssl=1\",\"keywords\":[\"economy\",\"EnterpriseAM\",\"inflation\",\"PMI\",\"Saudi Arabia\",\"UAE\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/06\/pmi-says-youre-not-optimistic-but-our-survey-said-you-are\/\",\"name\":\"PMI says you\u2019re not optimistic, but our survey said you are\u2026 - 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An easing of inflationary pressures, increase in export revenues, and uptick in tourism supported new business, though subdued demand and lower output continued\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/76.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567725,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/06\/private-sector-growth-slowed-in-november-pmi-shows\/","url_meta":{"origin":544469,"position":1},"title":"Private sector growth slowed in November, PMI shows","author":"enterpriseam admin","date":"6 December 2020","format":false,"excerpt":"Growth in Egypt\u2019s non-oil private sector slowed in November and business confidence fell to a record low amid fears of a resurgence of covid-19, according to IHS Markit purchasing managers\u2019 index (PMI) figures (pdf). The PMI gauge remained above the 50.0 mark which separates expansion from contraction for the third\u2026","rel":"","context":"In &quot;SENTIMENT&quot;","block_context":{"text":"SENTIMENT","link":"https:\/\/enterpriseam.com\/egypt\/category\/sentiment\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/88.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566216,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/pmi-outlook-brightens-but-remained-in-contraction-territory-last-month\/","url_meta":{"origin":544469,"position":2},"title":"PMI outlook brightens, but remained in contraction territory last month","author":"enterpriseam admin","date":"3 June 2021","format":false,"excerpt":"Activity in Egypt\u2019s non-oil private sector contracted for a sixth consecutive month in May, but at a slower rate as market conditions in major areas of the economy improved compared to the past three months and as optimism reached at a new high, according to IHS Markit\u2019s purchasing managers\u2019 index\u2026","rel":"","context":"In &quot;SPEED ROUND: ECONOMY&quot;","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/418.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564859,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/new-foreign-business-supports-egypts-private-sector-still-in-contraction-territory\/","url_meta":{"origin":544469,"position":3},"title":"New foreign business supports Egypt\u2019s private sector, still in \u201ccontraction\u201d territory","author":"enterpriseam admin","date":"3 March 2021","format":false,"excerpt":"Non-oil private sector conditions worsened for the third consecutive month in February, but at a milder rate than the past two months as new exports supported demand, according to IHS Markit\u2019s monthly survey of businesses. The purchasing managers\u2019 index (PMI) gauge rose slightly to 49.3 in February from 48.7 the\u2026","rel":"","context":"In &quot;SPEED ROUND: MACRO&quot;","block_context":{"text":"SPEED ROUND: MACRO","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-macro\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/404.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566667,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/06\/nearly-there\/","url_meta":{"origin":544469,"position":4},"title":"Nearly there","author":"enterpriseam admin","date":"6 July 2021","format":false,"excerpt":"Egypt\u2019s non-oil private sector was a dog\u2019s hair away from expansion in June, as conditions showed signs of stabilizing at the end of 1H2021, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf). The PMI gauge rose to 49.9, from 48.6 in May, only 0.1 shy of the 50.0 mark\u2026","rel":"","context":"In &quot;SPEED ROUND: ECONOMY&quot;","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/337.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545629,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/06\/inflation-hits-private-sector-activity-in-march\/","url_meta":{"origin":544469,"position":5},"title":"Inflation hits private sector activity in March","author":"enterpriseam admin","date":"6 April 2022","format":false,"excerpt":"Activity in Egypt\u2019s non-oil private sector saw its sharpest decline in 21 months in March as the effects of the Russia-Ukraine war and the devaluation of the EGP hit output and new orders, according to S&P Global\u2019s purchasing managers\u2019 index (PMI) survey (pdf). Rising inflation and slowing demand caused activity\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/136.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544469"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544469\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/544470"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544469"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544469"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}