Egypt's non-oil business activity contracts again in Sept

Activity in Egypt’s non-oil private-sector rose fractionally in September but remained in contractionary territory for the second consecutive month, a survey showed on Thursday.

The IHS Markit Egypt Purchasing Managers’ Index (PMI) for the non-oil private sector rose to 49.5 in September from 49.4 in August, just above 2019’s monthly average of 49.3 but below the 50.0 threshold that separates growth from contraction.


The survey said business conditions in the non-oil private sector “deteriorated at only a marginal rate in September, as firms reduced output at a softened pace”