Egypt's Non-Oil Business Sector Activity Shrinks in MarchSource: www.export-egypt.com 4/3/2018, Location: Africa |
|
|
|
|
|
Egypt’s non-oil private sector activity contracted again in March although businesses registered improved export orders for the third consecutive month, a survey showed .
The Emirates NBD Egypt Purchasing Manager’s Index (PMI) for the non-oil private sector fell to 49.2 from February’s reading of 49.7, shying further away from the 50 mark that separates growth from contraction. Output, which stood at 49.3, registered a second deterioration in March although the contraction rate had improved from the previous month, the survey showed. Non-oil business activity grew for the first time in 25 months in November, with a similar survey attributing the growth to the IMF-linked reforms, but has not done so since. The economy has been struggling to recover since a 2011 uprising scared tourists and investors away, two main sources of foreign currency. A series of tough economic reforms implemented in recent years have hit Egyptians hard, affecting purchasing power with a much weaker Egyptian pound. “While we still anticipate an improvement in the Egyptian economy this year as the negative effects of its IMF-sponsored reforms pass through, the latest PMI data implies that this is taking longer than the authorities might have hoped,” Daniel Richards, MENA Economist at Emirates NBD said. “Nevertheless, the index has consistently threatened to turn expansionary over recent readings, which is a vast improvement on the months just prior to the economic reforms.” |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
