{"id":707599,"date":"2026-06-03T00:00:00","date_gmt":"2026-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=707599"},"modified":"2026-06-03T12:39:18","modified_gmt":"2026-06-03T12:39:18","slug":"egypts-non-oil-private-sector-sees-slight-improvement-in-latest-pmi-report-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/06\/03\/egypts-non-oil-private-sector-sees-slight-improvement-in-latest-pmi-report-2\/","title":{"rendered":"Egypt\u2019s non-oil private sector sees slight improvement in latest PMI report"},"content":{"rendered":"

Good afternoon, ladies and gentlemen, and welcome to another enriching issue.<\/strong> Much to unpack in today\u2019s issue as we decolonize fashion with Nada Koreish, explore food and colonialism in Taiwan Travelogue, read into the new PMI report findings on the non-oil private sector, and keep track of World Cup friendlies.<\/p>\n

Without further ado, the news\u2026<\/strong><\/p>\n

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THE BIG STORY TODAY-<\/p>\n

\ud83d\udccd The non-oil private sector saw a slight improvement in May, with the S&P Global Purchasing Managers\u2019 Index (PMI) rising to 47.1 points<\/strong> from 46.6 points in April<\/a>, according to the agency\u2019s latest report (PDF)<\/a>. However, the sector's performance remained below the 50-point threshold that separates growth from contraction for the fifth consecutive month.<\/p>\n

The slowdown in private sector activity was driven by a renewed spike in input costs, which dampened demand.<\/strong> This forced companies to sharply hike prices and triggered the sharpest wave of job cuts since June 2020, the report noted. Additionally, purchase prices rose at their fastest pace since January 2023, fueled by higher fuel and electricity costs alongside currency depreciation.<\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

\ud83c\udf10 The US-Iran war once again dominates headlines as the two countries exchange strikes in one of the most serious escalations since the fragile ceasefire took effect.<\/strong> US forces claimed they intercepted Iranian ballistic missiles and drones aimed at US bases in Bahrain and Kuwait. The US then conducted \u201cself-defense\u201d strikes on Qeshm Island in the Strait of Hormuz. The strikes came after the US struck an empty oil tanker heading for Iran\u2019s Kharg Island.<\/p>\n

Kuwait was drawn into the conflict after an Iranian drone strike hit its international airport<\/strong>, injuring at least 63 people, according to the country\u2019s Health Ministry. Flights at the airport have been suspended due to heavy damage to one of its passenger terminals.<\/p>\n

^^Read more on: BBC<\/a>, Bloomberg<\/a>, CNN<\/a>, The Wall Street Journal<\/a>, and Financial Times<\/a>.<\/p>\n

IN OTHER NEWS-<\/strong> The Trump administration proposed new tariffs of up to 12.5% on imports from 60 economies following an investigation into goods allegedly produced by forced labor. The sweeping tariff package aims to revive US President Donald Trump\u2019s emergency tariffs, struck down earlier this year by the Supreme Court. Major trading partners like China, the EU, Japan, India, Canada, and others would be affected by the levy.<\/p>\n

^^Read more on: Bloomberg<\/a>, CNBC<\/a>, Reuters<\/a>, The Wall Street Journal<\/a>, and Financial Times<\/a>.<\/p>\n

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