Egypt’s Non-Oil Private Sector Shows Mild Contraction in October, PMI Reveals

Egypt’s non-oil private sector saw its mildest contraction in three months in October, as shown by a business survey on Tuesday. The S&P Global Egypt Purchasing Managers’ Index (PMI) rose to 49.2 from 48.8 in September, indicating a slight improvement. Although still below the growth threshold of 50.0, it pointed towards a marginal decline in business conditions. Manufacturing experienced an increase in new order volumes, while other sectors like services, wholesale and retail, and construction faced weaker activity, leading to the least pronounced decline in new business in five months.