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S&P Global’s Egypt Purchasing Managers’ Index (PMI) slipped to 48.8 last month from 49.2 in August, marking the lowest reading in three months. A PMI below 50 indicates contraction.
Business conditions in Egypt’s non-oil private sector declined slightly in September as new orders fell at the fastest pace in five months, a survey showed on Sunday. S&P Global’s Egypt Purchasing Managers’ Index (PMI) slipped to 48.8 last month from 49.2 in August, marking the lowest reading in three months. A PMI below 50 indicates contraction.
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Export sales fell for the 10th consecutive month, with the rate of contraction the sharpest in three years. Business confidence dipped, with output expectations for the coming year at one of the lowest levels in the survey’s history.