Egypt’s non-oil private sector experienced a modest boost in business confidence in July, even as overall operating conditions remained in contraction, according to the latest survey data.
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The S&P Global Egypt Purchasing Managers’ Index (PMI) rose to 46.8 in July from June’s 41-month low of 46.0, though it remains below the 50.0 threshold separating growth from contraction.
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Business sentiment climbed to its highest point since June 2022, driven by easing cost pressures.
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S&P Global Market Intelligence Principal Economist David Owen noted that a significantly slower rise in input costs suggests spending levels may begin to recover, offering companies “some light at the end of the tunnel” despite ongoing demand weakness.
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A continued drop in total order books forced firms to scale back output, headcounts, and purchasing activities.
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New orders shrank for the seventh consecutive month, while job cuts slowed to a marginal pace.
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Input cost inflation fell well below its long-term average, marking the softest rate of cost increases in six months
