Growth in Egyptian Business Activity Slows in October -PMI

In one of the most significant trends, however, Egypt continued to create more jobs in October, with the sub-index at 50.8 points, slowing only slightly from the previous month when hiring grew at the fastest rate since records began in 2011.

Non-oil private sector firms had been shedding jobs since May 2012, with one month of stability at 50 points in July.

Input prices rose sharply, with the index at 58 points, squeezing company profits, but the pace of increase eased from 61 points, 63.8 points and 67.8 in the previous three months.

Selling prices began to stabilise in October, however, with the output price index at 50.5 points versus 51.5 points the previous month.

Detailed PMI data is only available under licence from Markit and customers need to apply to Markit for a licence.

Source :Reuters