FOREX TradingCharts.com

Financial News: Egypt Non-oil Private Sector Contracts In January

Egypt Non-oil Private Sector Contracts In January

02/04/2020 - 06:38:00 (RTTNews)

(RTTNews) - Egypt's non-oil private sector contracted at a faster rate in January, data from the IHS Markit revealed on Tuesday.

The Purchasing Managers' Index, or PMI, decreased to 46.0 in January from 48.2 in December. Any reading below 50 indicates contraction in the sector.

Output declined at the fastest rate since January 2017, and new orders fell at the quickest pace in nearly three years. Export demand softened for the fourth month in a row.

Purchasing activity declined at the sharpest pace in twenty-eight months in January and sales declined, which led to lower input requirements.

On the price front, weaker demand for inputs restricted cost inflation in January as suppliers kept purchase prices unchanged for the first time in the survey history. Selling charges were lowered as cost pressures remained subdued.

Employment in the non-oil businesses decreased for the third month in a row and weaker sales reduced labor requirements.

"On the positive side, this kept input costs subdued, allowing firms to continue their discounting strategies to try and rejuvenate the market," David Owen, an economist at IHS Markit, said.

"As such, business expectations remained positive, despite dropping to a four-month low, as respondents hoped that lower prices would drive sales and activity higher in the coming months."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


IMF Says Coronavirus Poses New Threat To Fragile Global Economic Recovery (01 hr(s), 05 min(s), 32 sec(s) ago)
(RTTNews) - Global economy is set for a fragile and shallow recovery and the coronavirus outbreak ...Full Story»

Belgium Consumer Confidence Improves For Second Month (02 hr(s), 43 min(s), 32 sec(s) ago)
(RTTNews) - Belgian consumers were less pessimistic for a second straight month in February, surve ...Full Story»

Turkish Central Bank Cuts Rates Again (02 hr(s), 55 min(s), 32 sec(s) ago)
(RTTNews) - Turkey's central bank cut interest rates for a sixth policy session in a row, citi ...Full Story»

U.S. Housing Starts Pull Back After Reaching 13-Year High (04 hr(s), 25 min(s), 32 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a pullback in new res ...Full Story»

Eurozone Current Account Surplus Grows (04 hr(s), 32 min(s), 32 sec(s) ago)
(RTTNews) - Euro area current account surolus grew in December after dropping in the previous mont ...Full Story»

U.S. Producer Prices Climb 0.5% In January, Much More Than Expected (04 hr(s), 41 min(s), 32 sec(s) ago)
(RTTNews) - Producer prices in the U.S. increased by much more than anticipated in the month of Ja ...Full Story»

U.S. Housing Starts Pull Back Less Than Expected In January (05 hr(s), 17 min(s), 32 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a pullback in new res ...Full Story»

U.S. Producer Prices Climb Much More Than Expected In January (05 hr(s), 25 min(s), 32 sec(s) ago)
(RTTNews) - Producer prices in the U.S. increased by much more than anticipated in the month of Ja ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

IMF Says Coronavirus Poses New Threat To Fragile Global Economic Recovery

02/19/2020 - 12:59 PM (RTTNews)
(RTTNews) - Global economy is set for a fragile and shallow recovery and the coronavirus outbreak ...Full Story>>

Belgium Consumer Confidence Improves For Second Month

02/19/2020 - 11:21 AM (RTTNews)
(RTTNews) - Belgian consumers were less pessimistic for a second straight month in February, surve ...Full Story>>

Turkish Central Bank Cuts Rates Again

02/19/2020 - 11:09 AM (RTTNews)
(RTTNews) - Turkey's central bank cut interest rates for a sixth policy session in a row, citi ...Full Story>>

U.S. Housing Starts Pull Back After Reaching 13-Year High

02/19/2020 - 09:39 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a pullback in new res ...Full Story>>

Eurozone Current Account Surplus Grows

02/19/2020 - 09:32 AM (RTTNews)
(RTTNews) - Euro area current account surolus grew in December after dropping in the previous mont ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.