Egypt non oil private sector output continues growth as headline PMI slips in January
Egypt non-oil private sector output grew for the third straight month in January. However the headline PMI fell to 49.8 indicating a marginal weakening.
Insights:
S&P Global Inc. reported that non-oil private sector output in Egypt 
EGrose for the third consecutive month in January. Despite this expansion, the headline seasonally adjusted S&P Global Inc.EgyptPMI fell to 49.8 in January from 50.2 in December. This reading suggests a marginal weakening in overall operating conditions, as a PMI reading below 50.0 indicates contraction while a value above 50.0 indicates growth. Even with the slight decline, the report noted the index remained above its long-term average.
EGrose for the third consecutive month in January. Despite this expansion, the headline seasonally adjusted S&P Global Inc.EgyptPMI fell to 49.8 in January from 50.2 in December. This reading suggests a marginal weakening in overall operating conditions, as a PMI reading below 50.0 indicates contraction while a value above 50.0 indicates growth. Even with the slight decline, the report noted the index remained above its long-term average.The expansion in output, which represents the longest continuous period of growth since late 2020, was primarily driven by stronger demand from abroad. Conversely, domestic sales at Egyptianfirms slipped slightly after two months of expansion. S&P Global Inc.noted that while output increased, other metrics showed signs of easing demand and cooling activity. This was particularly evident in the reduction of backlogs of work, which were cleared at the fastest rate in nearly three years during January.
