Egypt’s non-oil private sector contracts to lowest point since January 2017

Egypt’s non-oil private sector contracts to lowest point since January 2017

Egypt's non-oil private sector contracts to lowest point since January 2017. Comments Off on Egypt's non-oil private sector contracts to lowest point since January 2017. Egypt's non-oil private sector's activity contracted to a three-year low in January due to the downturn in both sales and new exports, according to the IHS Markit Egypt Purchasing Managers' Index (PMI).. It reached 46.0 in January, down from 48.2 in December, which is still below the 50 point mark that signals a growth in business activity.. It was also the sixth consecutive month of decline for non-oil private business activity.. Supply-side factors were negatively hit.. Commenting on the latest survey results, David Owen, Economist at IHS Markit, said that January's PMI data brought unwelcomed news for Egypt's non-oil private sector..