The S&P Global Egypt PMI fell to 47.2 in September 2026 from 49.6 in August, signaling a renewed and accelerated deterioration in non-oil private sector conditions. Output and new orders both declined sharply, with weaker demand, geopolitical disruptions and elevated inflationary pressures weighing on business activity. Employment, however, increased for a second consecutive month, marking the first back-to-back rise in payrolls in more than a year. Meanwhile, purchasing activity contracted for a sixth straight month, while inventories fell for a third consecutive month as firms reduced input purchases. Cost pressures remained elevated, driven by higher oil, metals, electricity and transportation costs, prompting companies to raise selling prices strongly despite a slight easing in output price inflation. Business confidence remained positive but weakened from August’s more than four-year high amid concerns over weaker demand and ongoing geopolitical disruptions.