Egypt’s non-oil economy is marching steadily toward recovery, with business conditions posting their mildest contraction in over half a year during August.
The latest S&P Global Purchasing Managers’ Index (PMI) data revealed an upward tick to 49.6, climbing from July’s 46.8 reading and reflecting a persistent resilience across local enterprises.
Market analysts attribute this positive trajectory to stabilizing domestic demand, which has significantly decelerated the decline rates for both total output and incoming new orders.
Furthermore, labor market dynamics took a turn for the better, as companies expanded their headcounts to accommodate improving workflow demands for the first time in nearly ten months.
Looking ahead, business sentiment has hit a major milestone, soaring to its highest peak since mid-2022.
Driven by anticipations of major infrastructure initiatives, tourism sector growth, and strategic expansion plans, local firms remain remarkably optimistic about overcoming lingering supply chain pressures and achieving sustainable growth in the upcoming quarters.
