S&P’s Egypt PMI showed a new contraction in non-oil private sector activity in August, as companies pulled back on output increases due to weak demand.
The result was that the decline coincided with Reduced cost pressuresInflation in the prices of inputs has been one of the lowest in the last four and a half years.
At the same time, the rapid rise in selling prices eased the pressure on corporate profit margins. The index registered 49.2 points in August, up from 49.5 points in July, but the result was less severe than the historical average of 48.2 points.
S&P Global
According to the data, the S&P Global Purchasing Managers’ Index indicated a sustained deterioration in business conditions in Egypt’s non-oil private sector for the 38th consecutive month, amid weak demand and rising inflationary pressures.
According to the report, the index fell to 48.8 points in June compared to 49.5 points in May, to remain below the level of 50 points, which represents the difference between growth and deflation.
Read also: Oil prices stabilize as US tariffs impact
