Egypt’s non-oil sector sees minor setback in March, Lebanon’s PMI declines: S&P Global.
Egypt’s non-oil private sector saw a slight decline in business conditions in March, with the country’s Purchasing Managers’ Index easing to 49.2 from 50.1 in February, according to S&P Global.
In Lebanon, the PMI slipped to a five-month low of 47.6, reflecting softer economic activity amid regional uncertainty and subdued tourism. The trends in Egypt and Lebanon contrast with broader regional performance, where Saudi Arabia, the UAE, and Kuwait maintained expansionary momentum in February, with PMIs of 58.4, 55, and 51.6, respectively.
Weakened demand drove Egypt’s non-oil private sector into contraction territory, prompting firms to cut back on activity and purchases. However, he noted that Egypt’s PMI remained above its long-run trend, suggesting businesses were still in a relatively stable position.
The latest PMI survey indicated a significant easing of inflationary pressures, with input costs rising marginally — the slowest pace in nearly five years. S&P Global also noted that firms reported only a slight increase in selling prices, signaling a more stable pricing environment.
Source: Arabnews
