CAIRO: Business condition in Egypt’s non-oil private sector has improved after a “downward trend” in the first five months of 2015, Emirates NBD announced in a survey released Sunday.
The headline Emirates NBD Egypt Purchasing Managers’ Index (PMI) posted 50.2 in June, for the first time since December from 49.9 points in May, which indicates the stability of business conditions on average over the second quarter (50.0,) having deteriorated in Q1 2015 (48.6,) according to the survey.
“Growth of Companies output and expansion of new business had its impact in improving levels during June. There were reports that new project opportunities had bolstered demand conditions, leading to the latest rise in activity,” said NBD.