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English news

06-Dec-2018

PMI rises in November; still in contraction

Egypt's non-oil private-sector activity strengthened to 49.2 in November from 48.6 in October. November's PMI reading marks the third consecutive month of contraction, following expansionary readings in July and August. The downturn was led by a further decline in new orders during November, “as Egyptian firms found that challenging economic conditions continued to weigh on demand,” the PMI report read. Egyptian non-oil private sector firms recorded the slowest uptick in input costs seen across the series; as a result, output prices remained unchanged. 

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