Egypt's non-oil private sector slips in June, PMI below 50 for 4th consecutive month
Non-oil private sector witnessed a moderate deterioration in operating conditions at the end of the first half (H1) of 2025, with the survey highlighting further demand weakness and decline in output.
The new orders and output dropped further in June, sharply reducing purchasing activity in almost a year.
Firms voiced limited optimism towards the year-ahead outlook, with activity expectations dropping to a historic low in June.
Businesses cut their purchases for the fourth consecutive month, as output and new business volumes fell.
Meanwhile, input cost pressures softened, slowing down the increase in output prices.
Also, firms cut staffing for the fifth month running, though the rate of job shedding was fractional.
David Owen, Senior Economist at S&P Global Market Intelligence, commented: "Although rates of contraction accelerated from the prior survey, they remained softer than their respective historic trends. Nevertheless, a faster drop in input purchases combined with stalling hiring activity suggests that firms expect demand to remain low and are thereby looking to make cost savings.'
'Overall expectations for future activity were the lowest ever recorded in June, with the respective index having hovered close to all-time lows in 2025 so far,' Owen added.
He concluded: 'This downbeat sentiment reflects subdued hopes for order books, as well as concerns that geopolitical risks could cause greater economic disruption.'
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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