Egypt Non-Oil Private Sector Shrinks Again

Egypt's non-oil private sector in November contracted at the same pace as in the previous month, survey data from IHS Markit showed on Monday.

The Purchasing Managers' Index, or PMI, was 48.7 in November, same as in October. Any reading below 50 indicates contraction in the sector.

New order volumes declined for the third month in a row in November and new export business rose for the first time since August.

Selling charges rose sharply and input cost inflation was the fastest in over three years in November.

Input buying decreased for the first time in four months and the number of employed fell in November. Backlogs of work rose at the fastest rate since November last year.

The overall degree of sentiment declined for the second month in a row to its lowest level in twelve months.

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