Egypt Private Sector’s Tentative Rebound Continues in Latest PMI

A key gauge of Egypt’s non-oil private sector expanded for a second straight month, signaling a tentative rebound is continuing after a grueling economic crisis.

S&P Global’s Purchasing Managers’ Index for the North African nation was 50.1 in February, in what it said was the first back-to-back improvement in business conditions in more than four years. The reading was lower than January’s 50.7, but remained above the 50-mark that separates growth from contraction.