Egypt Non-Oil Private Sector Contracts Further

(RTTNews) - Egypt's non-oil private sector activity deteriorated further in March, though marginally, survey figures from IHS Markit showed Tuesday.

The seasonally adjusted Emirates NBD Egypt Purchasing Managers' Index, or PMI dropped 49.2 in March from 49.7 in February.

Any reading below 50 suggests contraction in the sector.

Among components, output continued to decline in March, while the level of incoming new business in the sector was unchanged.

On the price front, inflationary pressures moderated, with both input prices and output charges increasing at softer rates.