EGP News & Analysis

Egypt's PMI Hits Near Two-Year Low in March 2023

In March 2023, Egypt's Purchasing Managers' Index (PMI) dropped to 48.4, marking its lowest level in nearly two years. This decline indicates a contraction in the private sector, as any PMI below 50 signifies a reduction in activity. Factors contributing to this downturn include ongoing economic challenges and inflationary pressures. The data suggests potential negative impacts on investor sentiment and future economic growth prospects for the region.