{"id":661753,"date":"2025-03-04T00:00:00","date_gmt":"2025-03-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/04\/pmi-report-shows-non-oil-business-activity-rising-for-second-consecutive-month\/"},"modified":"2025-03-04T00:00:00","modified_gmt":"2025-03-04T00:00:00","slug":"pmi-report-shows-non-oil-business-activity-rising-for-second-consecutive-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/04\/pmi-report-shows-non-oil-business-activity-rising-for-second-consecutive-month\/","title":{"rendered":"PMI report shows non-oil business activity rising for second consecutive month"},"content":{"rendered":"

Good afternoon all you wonderful people, and happy Tuesday. <\/strong>We have a packed issue for you today, with all the latest on Egypt\u2019s most recent PMI report and the degradation of language in the digital age.<\/p>\n

\n

THE BIG STORY TODAY<\/p>\n

Egypt\u2019s non-oil business activity continued to grow for the second month running \u2014 but<\/strong> at <\/strong>a slower pace<\/strong>, \u201cmarking the first back-to-back improvement in business conditions in over four years,\u201d according to S&P Global Egypt<\/a>PMI<\/a>(pdf)<\/a>. Egypt\u2019s headline figure dipped to 50.1 in February from a 50-month-high of 50.7 in January<\/a>. Last month\u2019s figure represented the index\u2019s highest level for Egypt since November 2020, and marked only the second time the country's non-oil activity has hit expansion territory during this period. <\/p>\n

There\u2019s been no better start to Egypt\u2019s year:<\/strong> \u201cCoupled with January's upturn, the data reflects the best opening two months of the year in the survey's history,\u201d S&P Global Senior Economist David Owen said.<\/p>\n

Input cost pressures \u201cremained relatively soft\u201d compared to what was seen in 2024<\/strong>, which indicates that \u201cinflation is likely to continue its downward trend, in the near-term at least,\u201d Owen said. While some respondents cited increased cost pressures to a stronger USD, this was partly offset by a decline in staff costs. However, cost pressures were felt more in the manufacturing and construction sectors. Meanwhile, selling prices rose at a gradual rate in February, as businesses looked to \u201climit the pass-through of higher cost burdens to clients.\u201d<\/p>\n

AND- The <\/strong>emergency Gaza-focused Arab League summit<\/a><\/strong> is taking place in Cairo later <\/strong>today, <\/strong>bringing together a long list of Arab leaders in an effort to unify the Arab stance<\/a> against the calls for displacement of Gazans.<\/p>\n

\n

THE BIG STORY ABROAD<\/p>\n

The int\u2019l news cycle is back in full swing today<\/strong>, after US President Donald Trump imposition<\/a>of tariffs<\/a> on Mexico, Canada, and China and his decision to put a pause on US aid to Ukraine yesterday set off a spiral of tit-for-tat tariff escalations.<\/p>\n

China hit back against Trumps\u2019 doubling of tariffs on Chinese imports to 20% <\/strong>by imposing<\/a>retaliatory tariffs<\/a> on certain US food products, set to go in effect on 10 March. Beijing has also filed suit against the US<\/a> at the World Trade Organization (WTO), saying that the tariffs violate the rules of WTO and undermine economic relations between the two parties.<\/p>\n

Meanwhile, OPEC is making waves with its decision to <\/strong>finally implement the unwinding<\/a><\/strong>of oil production cuts<\/a><\/strong> beginning in April. <\/strong>The move comes after multiple delays since the bloc announced that it would be ending mandatory production cuts in June. \u201cThe change in the OPEC strategy looks like they are prioritizing politics over price,\u201d chief commodities analyst at SEB Bjarne Schieldrop told Reuters<\/a>. \u201cThose politics are likely connected with the wheeling and dealing of Donald Trump,\u201d who has called for lower oil prices, Schieldrop added.<\/p>\n

\n
\n
\n
\n

Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n