Egypt’s PMI Index remains at 49.2 in August

Egypt’s Purchasing Managers’ Index (PMI) for the non-oil private sector remained at 49.2 in August, unchanged from July yet still below the 50.0 threshold that separates growth from contraction.

Egypt’s non-oil private sector continued to shrink at a low rate last August, while outlooks improved slightly, while the future production sub-index rose to 53.7 from 52.9 in July, according to S&P Global report.

The North African country’s annual main inflation rate accelerated to a new record level of 36.5 percent in July from a previous record high of 35.7 percent in June, according to Central Agency for Public Mobilisation and Statistics (CAPMAS).