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Financial News: Egypt Non-Oil Private Sector Deteriorates In May

Egypt Non-Oil Private Sector Deteriorates In May

06/05/2018 - 01:49:00 (RTTNews)

(RTTNews) - Egypt's non-oil private sector activity contracted marginally in May, survey figures from IHS Markit showed Tuesday.

The seasonally adjusted Emirates NBD Egypt Purchasing Managers' Index, or PMI fell to 49.2 in May from 50.1 in April.

A score a above 50 indicates expansion, while any reading below 50 suggests contraction in the sector.

Among components, both output and new orders registered slight declines in May. Meanwhile, purchasing activity remained in expansion territory.

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