Egypt Non-oil Private Sector Contracts Slightly

(RTTNews) - Egypt's non-oil private sector activity deteriorated marginally at the start of the year, survey data from IHS Markit showed Monday.

The seasonally adjusted Emirates NBD Egypt Purchasing Managers' Index, or PMI rose to 49.9 in January from 48.3 in December. However, any reading below 50 suggests contraction in the sector.

Both output and new orders remained broadly unchanged in January, following reductions in the previous month.

At the same time, new export orders registered a renewed rise amid reports of greater demand from international markets.

On the price front, rates of both input cost and output charge inflation accelerated.