Egypt’s non-oil private sector shrinks in April – PMI

Egypt’s non-oil private sector experienced shrinkage, with April’s S&P Global Egypt Purchasing Managers’ Index registered at 47.4, marking 41 months in contraction.

Business activity and new orders declined in the country, while export orders remained stable. Employment declined, reflecting ongoing challenges, the report showed.

The report also showed that policy shifts eased inflation, but business activity remains subdued. Despite low optimism, there’s increased confidence due to hopes of stability, it added.

Input costs fell, and output charge inflation slowed. The report further indicates that continued efforts and supportive policies are crucial for sustainable growth.