Egypt’s Non-Oil Private Sector Posts Strongest Growth in Five Years

Egypt’s non-oil private sector recorded its fastest pace of expansion in five years in November, according to a survey released Wednesday, signaling renewed momentum in business activity as 2025 draws to a close.

The S&P Global Egypt Purchasing Managers’ Index (PMI) climbed to 51.1 last month, up sharply from 49.2 in October. The reading moved decisively above the 50-point threshold that separates growth from contraction, its first move into expansion territory since February and the highest level since October 2020.

The survey showed a notable rise in output levels for the first time since January, alongside a strong increase in new orders. Most sectors covered in the survey reported improvement, with wholesale and retail being the only segment to register a decline in activity.

Although selling prices charged by non-oil firms edged higher, the increase was modest, suggesting pricing pressures remain broadly contained.

David Owen, chief economist at S&P Global Market Intelligence, said the latest data reflects a significant strengthening of business conditions:

“Egypt’s non-oil private sector saw the strongest improvement in business conditions in over five years in November, pointing to a strong end to 2025,” he noted.

Owen added that the PMI reading suggests annual GDP growth could exceed 5% in the fourth quarter, a positive signal for policymakers and investors looking for signs of sustained economic recovery.