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Financial News: Egypt Non-Oil Private Sector Expands Marginally In April

Egypt Non-Oil Private Sector Expands Marginally In April

05/03/2018 - 02:12:00 (RTTNews)

(RTTNews) - Egypt's non-oil private sector activity improved for the first time in thirty-one months in April, though slightly, survey figures from IHS Markit showed Thursday.

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

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

Underlying the upward movement in the headline index was a renewed increase in new orders during April. At the same time, business activity stabilized. On the price front, input cost inflation eased to the weakest since May 2015, while charge inflation was at a four-month low.

"We anticipate that the PMI will be more consistently positive over the coming quarters, as ongoing economic reforms and loosening monetary policy encourage greater private sector activity," Daniel Richards, MENA Economist at Emirates NBD, said.

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