Having eased considerably during February, the deterioration of Egypt’s non-oil private sector gathered pace at the end of the first quarter, according to Emirates NBD Egypt March PMI. The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the Egyptian private sector. The headline seasonally adjusted Emirates NBD Egypt’s PMI—a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy—edged down from February’s six-month high of 46.7 to 45.9 in March, pointing to a worsening in business conditions. The report stated that lower volumes of incoming new business prevented firms from raising their input buying. The respective rates of inflation eased to 13-month lows in both cases, but were sharp overall,” the report read.

Source: Daily News Egypt April 04, 2017 15:11 UTC