Business sentiments of Egypt’s non-oil businesses hit record low

Only 4% of firms, just one out of 25, surveyed for Egypt’s purchasing manager’s index (PMI) in October gave a positive outlook for the next 12 months, the lowest recorded level. 

As the PMI index grew marginally, reaching 47.7 in October, up from 47.6 last month – anything below 50.0 indicates business conditions are deteriorating – the country remains heavily impacted by the Russia-Ukraine war, the PMI report for the months…