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Thndr Claps » EGY Claps » The Egyptian private sector continues to shrink 👇

The Egyptian private sector continues to shrink 👇

by Ziad Amin
May 8, 2022

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

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