{"id":549909,"date":"2022-10-05T04:05:16","date_gmt":"2022-10-05T04:05:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/"},"modified":"2022-10-05T04:05:16","modified_gmt":"2022-10-05T04:05:16","slug":"pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/","title":{"rendered":"PMI is flat month on month, with private sector still in contraction territory"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Activity in Egypt\u2019s non-oil private sector contracted at the same pace in <\/strong><strong>September<\/strong> as it did in August, according to S&P Global\u2019s latest <a href=\"https:\/\/ent.news\/2022\/10\/Egypt_PMI_Sept22_EN.pdf\">purchasing managers\u2019 index (pdf)<\/a>. The PMI index <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/03f3644f-a7a1-4421-be66-e82e6ea593ce\">was flat<\/a> month-on-month at 47.6, remaining below the 50.0 threshold that separates growth from contraction for the twenty-second consecutive month. September\u2019s contraction was attributed primarily to sustained inflationary pressures, weaker consumer demand, and the implications of the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/34592f12-233d-4901-ae0a-b210c9ca855e\">energy rationing measures<\/a> enforced by the government.<\/p>\n<p><strong>Inflationary pressures are still affecting costs:<\/strong> Imports \u2014 which have slowed due to restrictions imposed by the Central Bank of Egypt earlier this year, and become more expensive on the back of a weakening EGP \u2014 drove up input costs, forcing businesses to increase price tags, according to S&P Global. This led to weak consumer demand, resulting in a sustained decline in output. The output sub-index declined for the thirteenth month in a row and new orders fell to their lowest level in seven months.<\/p>\n<p><strong>Global macro conditions and the war in Ukraine continue to weigh heavily: <\/strong>\u201cRussia's war on Ukraine led to sharp uplifts in energy costs and the introduction of energy rationing policies. At the same time, unfavorable EGP-USD exchange rate movements added to already steep price pressures,\" S&P Global Economist Shreeya Patel said.<\/p>\n<p><strong>ON THE UPSIDE- More people are snagging jobs \u2014 and optimism is rising:<\/strong> Hiring rates rose marginally for the third consecutive month. Confidence in future growth improved from August\u2019s historically low forecast in future business activity conditions. This echoes the results of our <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bd84427a-c81c-42e3-9a7b-a8ca9d01efdc\">Fall 2022 Readers Survey<\/a>, which showed almost half of respondents anticipating that 2023 will bring better conditions for the business community.<\/p>\n<p><strong>FROM THE REGION-<\/strong><\/p>\n<p><strong>Saudi Arabia\u2019s non-oil private sector activity expansion slowed in September <\/strong>with the <a href=\"https:\/\/ent.news\/2022\/10\/Saudi-pmi-September-2022.pdf\">PMI<\/a><a href=\"https:\/\/ent.news\/2022\/10\/Saudi-pmi-September-2022.pdf\">(pdf)<\/a> dropping to 56.6 from 57.7 in August, despite a strong pickup in output and new orders. Purchasing activity increased with higher client appetite but dipped lower than August\u2018s figure. Headcounts increased marginally, growing at their slowest pace in six months.<\/p>\n<p><strong>September PMI data for the UAE<\/strong> will be released at 6:15am CLT today. <a href=\"https:\/\/www.pmi.spglobal.com\/Public\/Release\/PressReleases?language=en\">You\u2019ll find it here<\/a> when it\u2019s out.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Activity in Egypt\u2019s non-oil private sector contracted at the same pace in September as it did in August, according to S&#038;P Global\u2019s latest purchasing managers\u2019 index (pdf). The PMI index was flat month-on-month at 47.6, remaining below the 50.0 threshold that separates growth from contraction for the twenty-second consecutive month. September\u2019s contraction was attributed primarily [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":549910,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[104,72,182,185,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-inflation","tag-pmi","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"2b7956e2-bf64-4f31-872d-460d0234cc4f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/136.jpg","photo_position":"above","related_issue":[549905],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PMI is flat month on month, with private sector still in contraction territory - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PMI is flat month on month, with private sector still in contraction territory\" \/>\n<meta property=\"og:description\" content=\"Activity in Egypt\u2019s non-oil private sector contracted at the same pace in September as it did in August, according to S&amp;P Global\u2019s latest purchasing managers\u2019 index (pdf). The PMI index was flat month-on-month at 47.6, remaining below the 50.0 threshold that separates growth from contraction for the twenty-second consecutive month. September\u2019s contraction was attributed primarily [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-05T04:05:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/136.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"PMI is flat month on month, with private sector still in contraction territory\",\"datePublished\":\"2022-10-05T04:05:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/\"},\"wordCount\":367,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/10\/136.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economy\",\"EnterpriseAM\",\"inflation\",\"PMI\",\"Saudi Arabia\"],\"articleSection\":[\"Economy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/\",\"name\":\"PMI is flat month on month, with private sector still in contraction territory - 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The PMI index registered 47.7 last month, climbing just 0.1 points\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589633,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/06\/the-pmi-was-in-contraction-territory-again-in-june\/","url_meta":{"origin":549909,"position":1},"title":"The PMI was in contraction territory again in June","author":"enterpriseam admin","date":"6 July 2023","format":false,"excerpt":"The PMI rose to 49.1 from 47.8 in May","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/129.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542598,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/pmi-outlook-improves-but-remains-in-contraction-territory\/","url_meta":{"origin":549909,"position":2},"title":"PMI outlook improves, but remains in contraction territory","author":"enterpriseam admin","date":"5 January 2022","format":false,"excerpt":"Egypt\u2019s non-oil business activity \u201cinched closer to stabilisation\u201d in December, contracting at its slowest pace in four months, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf). 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