{"id":325128,"date":"2022-04-05T12:06:28","date_gmt":"2022-04-05T12:06:28","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325128"},"modified":"2022-04-10T17:32:53","modified_gmt":"2022-04-10T17:32:53","slug":"egypts-non-oil-economy-drops-to-21-month-low-in-march-sp-global-pmi","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/04\/05\/egypts-non-oil-economy-drops-to-21-month-low-in-march-sp-global-pmi\/","title":{"rendered":"Egypt PMI falls to 21-month low in March – S&P Global"},"content":{"rendered":"

Egypt\u2019s non-oil economy suffered a strong decline in business conditions in March, with its Purchasing Managers\u2019 Index (PMI) falling to 21-month low, a survey showed on Tuesday.<\/p>\n

The S&P Global Egypt Purchasing Managers\u2019 Index fell to 46.5 from February\u2019s 48.1, its 16th month below the 50.0 threshold that separates growth from contraction.<\/p>\n

\"\"<\/p>\n

The \u201camplifying of inflationary pressures on energy, food and raw materials amid the Russia-Ukraine war led to sharp decreases in output and new orders.\u201d S&P Global survey read.<\/p>\n

Lower business conditions have been affected by intensifying inflationary pressures\u00a0on energy, food, and raw materials due to the war in Ukraine, resulting in lower output and new orders, according to a press release on Tuesday.<\/p>\n

Alongside inflationary pressures amid supply concerns,\u00a0import costs rose due to a devaluation of the Egyptian pound.<\/p>\n

Meanwhile, companies lowered their purchases of inputs at the quickest level in nearly two years, while employment levels retreated for the fifth month in a row.<\/p>\n

The Economist at S&P Global,\u00a0David Owen,<\/strong> said: “The non-oil economy was clearly hit by the effects of the Russia-Ukraine war during March, with firms often seeing clients pull new orders back amid increased prices and economic uncertainty.”<\/em><\/p>\n

Owen added: “While the 14% devaluation of the Egyptian pound on 21 March may provide some short-term support for the economy, it will also likely accelerate cost pressures.”<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s non-oil economy suffered a strong decline in business conditions in March, with its Purchasing Managers\u2019 Index (PMI) falling to 21-month low, a survey showed on Tuesday.<\/p>\n","protected":false},"author":4,"featured_media":320299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,21],"tags":[],"class_list":["post-325128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-news"],"yoast_head":"\nEgypt PMI falls to 21-month low in March - S&P Global - egy-africa<\/title>\n<meta name=\"description\" content=\"Egypt\u2019s non-oil economy suffered a strong decline in business conditions in March, with its Purchasing Managers\u2019 Index (PMI) falling to 21-month low, a survey showed on Tuesday.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/04\/05\/egypts-non-oil-economy-drops-to-21-month-low-in-march-sp-global-pmi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt PMI falls to 21-month low in March - 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