Egypt's Private Non-Oil Sector Records Best Performance Since 2020
The jump in Egypt’s Global Purchasing Manager’s Index also marks the first signs of growth since August, according to S&P.
Egypt’s Global Purchasing Manager’s Index (PMI) hit 50.7 in January 2025, marking a 2.6 point increase since December 2024, and marking an all time high in the non-oil private sector since November 2020, according to a report by American financial information company S&P.
The jump also marks the first signs of growth since August. According to S&P, a PMI reading over 50 signifies growth, while anything below that level signifies a contraction.
David Owen, Senior Economist at S&P Global Market Intelligence, credits the growth to the recent political changes surrounding Israel and Palestine. "The ceasefire deal between Israel and Hamas likely added confidence to markets in January,” Owen wrote. “That said, business expectations for the next 12 months remain subdued, showing that firms are still uncertain about economic stability over the longer term.”
S&P reports that unemployment rates have finally stabilised for the first time, but new-hiring has been limited. The report also indicates that cost pressures have reached an all-time low in eight months.
