Egypt’s Economy Keeps Sliding – Businesses Hit 4-Month Low (Here’s Why)
(Source: Reuters & S&P Global PMI Data)
Egypt’s non-oil businesses are struggling—again. According to Reuters, June’s key economic health check (PMI) dropped to 48.8, its fourth straight month in the “danger zone” (below 50 = contraction). Here’s what’s happening:
Why It’s Bad News
- Demand is shrinking: Customers aren’t buying, and new orders are falling fast (steepest drop in 11 months).
- Jobs at risk: Companies cut workers for the 5th month in a row (though slowly).
- Businesses are scared: Confidence hit a record low—many fear Gaza war spillovers and economic chaos.
(Source: S&P Global’s David Owen via Reuters)
One Small Silver Lining
Prices aren’t rising as sharply, giving businesses slight relief. But with sales collapsing, it’s not much help.
What This Means for Egypt
This isn’t just a bad month—it’s a trend. Without more customers or stability, recovery looks tough.
Key Takeaway: Reuters data shows Egypt’s economy is stuck in a slump. Watch for government moves to revive growth.