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Standard & Poor

Egypt's non-oil private sector shows signs of stabilization amidst challenges in August

While optimism about future output was limited, with only 9% of respondents expecting growth, concerns about” recessionary conditions” remained prevalent

Non-oil businesses share subdued outlook despite PMI hitting 22-month high in June

There were signs of positive growth, as both output and new orders experienced slower declines, with the slowed decline suggesting a potential stabilization. The report also pointed towards easing inflationary pressures

Egypt’s PMI sees slight recovery in May 2023, hitting highest rating since Feb 2022

Purchase prices were mostly unchanged as exchange rates steadied, with selling prices rising at a quicker pace. S&P noted that selling prices were still weaker in comparison to recent numbers

Egypt’s PMI climbs to 47.3 in April due to easing inflationary pressures

"The latest PMI figures for Egypt provided some promising hints for the direction of the non-oil economy, particularly on inflation,” explained David Owen, Senior Economist at S&P Global Market Intelligence

S&P lowers its outlook for 3 Egyptian banks to negative

S&P maintained its global long- and short-term issuer credit ratings for these banks at “B/B"