Egypt’s Non-Oil Private Sector Slightly Shrinks in September, PMI Shows
Egypt’s non-oil private sector shrank slightly in September, mainly because new sales dropped at the fastest rate in five months, according to the S&P Global Egypt PMI survey.
The seasonally adjusted S&P Global Egypt Purchasing Managers’ Index (PMI) fell to 48.8 in September from 49.2 in August, staying below the 50 mark that separates growth from decline.
Survey participants said lower sales were caused by weak economic conditions, higher prices, and growing wage costs.
The survey also showed a fall in output and no growth in employment. Almost all companies kept their staff numbers unchanged in September, ending two months of job growth. Many businesses said that fewer new orders meant they did not need to hire more workers.
Still, the overall decline in business activity was only small. A slowdown in input cost increases gave companies some relief. Input costs rose at the slowest rate in six months.
“Although companies are finding it hard to win new work due to difficult market conditions, they can take some comfort from easing input cost pressures, helped by the Egyptian pound’s recent strength against the US dollar,” said David Owen, Senior Economist at S&P Global Market Intelligence.
Prices charged by non-oil firms went up again in September, but the rise was slightly slower than in August.
Egypt’s Economic Growth
Egypt’s economy grew by 4.4% in the 2024–2025 fiscal year, supported by a strong fourth quarter when GDP growth reached about 5%, the highest in three years. This was a big improvement from the 2.4% growth recorded in 2023–2024 and above the government’s forecast of 4.2%.
The growth was mainly driven by strong performance in key sectors, especially tourism, which grew 19.3% in the fourth quarter and 17.3% for the full year. The country welcomed over 17 million tourists during the year.
Published: 6th October 2025
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