The Clap
Egypt’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 Class
The PMI measures whether conditions for non-oil businesses are expanding, staying the same, or contracting from the point of view of purchasing managers.
The deets
S&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
