{"id":626520,"date":"2018-07-04T04:18:32","date_gmt":"2018-07-04T04:18:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/04\/pmi-sees-business-conditions-in-non-oil-private-sector-improving-only-slightly-last-month\/"},"modified":"2018-07-04T04:18:32","modified_gmt":"2018-07-04T04:18:32","slug":"pmi-sees-business-conditions-in-non-oil-private-sector-improving-only-slightly-last-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/04\/pmi-sees-business-conditions-in-non-oil-private-sector-improving-only-slightly-last-month\/","title":{"rendered":"PMI sees business conditions in non-oil private sector improving only slightly last month"},"content":{"rendered":"

<\/a> Business conditions in the non-oil private sector appear to have improved only slightly last month<\/strong>, \u201csignalling a deterioration in [its] health,\u201d according to the Emirates NBD PMI reading (pdf)<\/a> compiled by Markit. The gauge rose slightly 49.4 in June from 49.2 in May, driven by a slight drop in output and exports, as \u201c both total new orders and export orders decreased to lesser extents than observed in May.\u201d The PMI remains below the 50.0 mark separating contraction from growth.<\/p>\n

Still, businesses are confident about growth prospects for what remains of the year<\/strong>. Activity likely declined in June as a result of inflationary pressures and higher costs, which led many firms in the sector to hike prices. Despite that, the \u201cdegree of optimism strengthened from May, underpinned by expectations of further investments and new contracts.\u201d Emirates NBD MENA Economist Daniel Richards also said that \u201cexternal rebalancing and government investment\u201d have now become crucial for growth, as the private sector \u201ccontinues to lag.\u201d Bloomberg is taking note of the story<\/a> in light of the IMF\u2019s recommendation that the CBE maintain monetary tightening in its third review.<\/p>\n","protected":false},"excerpt":{"rendered":"

Business conditions in the non-oil private sector appear to have improved only slightly last month, \u201csignalling a deterioration in [its] health,\u201d according to the Emirates NBD PMI reading (pdf) compiled by Markit. The gauge rose slightly 49.4 in June from 49.2 in May, driven by a slight drop in output and exports, as \u201c both […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626520","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b9b729b6-24f8-4f20-a1fa-25821af3ae31","order":"0","is_powered_by":true,"section_story_id":"86cbbe08-5bc5-499b-8f3e-dda9775c939c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[626507],"teaser":"","voice_url":""},"yoast_head":"\nPMI sees business conditions in non-oil private sector improving only slightly last month - 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\/2018\/07\/04\/pmi-sees-business-conditions-in-non-oil-private-sector-improving-only-slightly-last-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PMI sees business conditions in non-oil private sector improving only slightly last month\" \/>\n<meta property=\"og:description\" content=\"Business conditions in the non-oil private sector appear to have improved only slightly last month, \u201csignalling a deterioration in [its] health,\u201d according to the Emirates NBD PMI reading (pdf) compiled by Markit. 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