Thndr Claps » EGY Claps » The Egyptian private sector continues to shrink 👇
The ClapEgypt’s Purchasing Managers’ Index (PMI) recorded a slight increase in April to reach 46.9 points after declining to 46.5 points in March, marking a persistent contraction for 17 months.
Claps ClassThe PMI measures whether conditions for non-oil businesses are expanding, staying the same, or contracting from the point of view of purchasing managers.
The deetsS&P Global attributed the contraction to companies’ cutbacks of their expenditures due to the increase in input prices.
According to S&P Global, companies are expected to face more challenges due to high input prices as the Russian-Ukrainian war and its supply disruption continue.
The report also indicated that the number of workers in the private sector decreased at the fastest pace in a year.
For the full S&P Global report, click here
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