Activity in Egypt's non-oil private sector contracted in November for the f...
CAIRO - Activity in Egypt’s non-oil private sector contracted in November for the fourth consecutive month, falling to its lowest since September 2017, a survey showed on Tuesday.
The PMI’s decline from October to November was the biggest since May, when the index slipped back into contractionary territory after a brief expansion in April. Output shrank for a fourth month, with the rate of decline strengthening “as businesses sought to limit activity due to a drop in new orders”, the report said.
“The downturn was extended to foreign orders, with firms noting weakness in key export markets,” Owen said.
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