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FinancialNews
05-05-19
Egypt sees tough rebound in non-oil private sector
(MENAFN) Egypt, according to a survey issued on Sunday, registered the highest activity in its non-oil private sector since August 2015.
For the first time in eight months, the Egyptian non-oil private sector hit 50.8 in April compared to the 49.9 seen a month earlier.
This figure exceeded the 50 target which separates growth from contraction, revealed the Emirates NBD Egypt Purchasing Managers' Index (PMI).
According to the survey, a production sub-index reached 51.1 last month to record a rebound from 49.9.
Emirates NBD MENA economist Daniel Richards stated "the improvement from the first quarter - the PMI index averaged just 48.9 over January to March - was broad-based, with most of the index's subcomponents returning positive 50-plus readings."
MENAFN0505201900450000ID1098477748
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