The IHS Markit Egypt PMI declined to 48.2 in December 2020 from 50.9 in November. The latest reading marked the first monthly contraction in the sector in four months, reflecting solid falls in both output and new orders as rising COVID-19 cases sparked a reduction in client demand. Meanwhile, the job shedding accelerated to the fastest in four months, albeit still only moderate overall.
On the price front, input prices inflation accelerated, due to a faster rise in prices of raw materials, while selling charges rose slightly. However, some firms lowered their charges amid efforts to attract new customers. Business sentiment improved strongly, due to hopes effective COVID-19 vaccines and expectations of new contracts and business expansion.
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