Egypt Purchasing Managers’ Index (PMI) for non-oil private sector slightly rose to 47.7 in October, up from 47.6 in September, according to a report by Standard and Poor’s (S&P) Global that was released on Thursday.
According to S&P Global report on Egypt, despite ticking up to the highest since February, the headline index was still below its long-run average and indicated another solid decline in operating conditions.
Meanwhile, the report pointed out to a sustained decrease in new business inflows across the non-oil private sector, which dropped significantly to the least extent in eight months.
It also noted that the sector’s companies experienced a contraction in new orders in October that was driven by the elevated inflation and the subsequent fall in client spending, including customers from foreign markets