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PMI falls to 47.2 in September
The "Standard & Poor's" report shows a decline in Egypt's purchasing managers' index (PMI) to 47.2 points in September, down from a seven-month high of 49.6 in August. Despite this decrease, employment growth continued due to companies' optimism about the future. Egyptian companies also experienced a drop in new orders owing to turbulent market conditions and geopolitical conflicts, leading to reduced activity and stagnant inventories. Nonetheless, companies kept raising product prices in response to mounting cost pressures. Business backlog continued to grow, and market organizers remained optimistic about the future despite economic challenges. Experts consider that the ongoing rise in costs and geopolitical situations pose the most significant risks to the Egyptian economy.
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