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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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