Egypt's Non-Oil Private Sector Sees Fastest Growth in Five Years in November: PMI
Egypt's Non-Oil Private Sector Sees Fastest Growth in Five Years in November: PMI
The growth was fueled by significant increases in output and new orders, according to a business survey.
🟠 The S&P Global Egypt Purchasing Managers' Index rose to 51.1 last month, up from 49.2 in October.
🟠 This marked the first time the index surpassed the 50.0 growth threshold since February and its highest level since October 2020.
🟠 Output levels increased for the first time since January across most business segments, with only wholesale and retail registering lower activity.
🟠 New business intakes also increased, ending eight consecutive months of decline, as manufacturing, construction, and services all recorded growth.
However, companies remained reluctant to hire, leaving employment levels unchanged.
Overall cost inflation decelerated to an eight-month low, partly due to a stronger local currency versus the dollar, which helped reduce import costs.
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