Egypt’s non-oil private sector activity record 49.2 in July

Egypt’s non-oil private sector recorded its slowest pace to record 49.2 in July from 49.1 last month, as expectations for improvement remained weak soon, the headline Purchasing Managers’ Index (PMI) showed on Thursday.

The S&P Global Egypt PMI report added that figures are 50-point level separating growth from contraction, as the sector shrunk for 32 consecutive months; July’s contraction was the slowest since August 2021.

The report highlighted the companies’ record the slowest increase in their charges since April 2022, but exchange rate weakness against the dollar meant that purchase prices continued to rise sharply.