FOREX TradingCharts.com

Financial News: Egypt Non-oil Private Sector Growth Fastest Since 2014

Egypt Non-oil Private Sector Growth Fastest Since 2014

11/03/2020 - 06:34:00 (RTTNews)

(RTTNews) - Egypt's non-oil private sector expanded in October at the strongest pace since the end of 2014, data from the IHS Markit revealed on Tuesday.

The Purchasing Managers' Index, or PMI, climbed to 51.4 in October from 50.4 in September. Any reading above 50 indicates expansion in the sector.

Firms increased their capacity due to the loosening of Covid-19 restrictions and the rate of activity growth was the fastest since August 2014.

New orders rose at a quicker rate in October and to the greatest extend in over six years and new export business increased.

Backlogs of work rose for the sixth month in a row in October and delivery time shortened for the fourth straight month.

Employment declined for the twelfth month in a row in October. Business confidence worsened as sentiment regarding the coming 12 months of activity decreased to the weakest since May.

Input prices rose at the fastest pace for thirteen months in October and selling cost rose at the fastest pace since August last year.

"The relatively strong upturn will encourage businesses, but also highlights the extent of the gap between current and pre-COVID activity levels that firms still need to abridge," David Owen, Economist at IHS Markit, said.

"Growth could accelerate further if restrictions remain loose, although there are still enduring risks that may slow the recovery," Owen added.

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


New Zealand Building Permits Spike 8.8% In October (10 min(s), 06 sec(s) ago)
(RTTNews) - The total number of building permits issued in New Zealand was up a seasonally adjuste ...Full Story»

Australia Data On Tap For Thursday (40 min(s), 06 sec(s) ago)
(RTTNews) - Australia is scheduled to release a batch of data on Thursday, setting the pace for a ...Full Story»

Most Fed Districts Characterize U.S. Economic Growth As Modest Or Moderate (02 hr(s), 50 min(s), 06 sec(s) ago)
(RTTNews) - Economic growth in the U.S. has been characterized as modest or moderate by most Feder ...Full Story»

U.S. Private Sector Job Growth Misses Estimates In November (08 hr(s), 16 min(s), 06 sec(s) ago)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story»

U.S. Private Sector Employment Rises Less Than Expected In November (08 hr(s), 48 min(s), 06 sec(s) ago)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story»

Eurozone Unemployment Rate Continues To Fall (09 hr(s), 39 min(s), 06 sec(s) ago)
(RTTNews) - The euro area unemployment rate continued to fall in October with the gradual relaxati ...Full Story»

Ireland Jobless Rate Rises In November (10 hr(s), 02 min(s), 06 sec(s) ago)
(RTTNews) - Ireland's jobless rate rises in November, figures from the Central Statistics Offi ...Full Story»

Portugal Industrial Production Growth Slows (10 hr(s), 15 min(s), 06 sec(s) ago)
(RTTNews) - Portugal's industrial production grew at a softer pace in October, figures from St ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

New Zealand Building Permits Spike 8.8% In October

12/02/2020 - 17:00 PM (RTTNews)
(RTTNews) - The total number of building permits issued in New Zealand was up a seasonally adjuste ...Full Story>>

Australia Data On Tap For Thursday

12/02/2020 - 16:30 PM (RTTNews)
(RTTNews) - Australia is scheduled to release a batch of data on Thursday, setting the pace for a ...Full Story>>

Most Fed Districts Characterize U.S. Economic Growth As Modest Or Moderate

12/02/2020 - 14:20 PM (RTTNews)
(RTTNews) - Economic growth in the U.S. has been characterized as modest or moderate by most Feder ...Full Story>>

U.S. Private Sector Job Growth Misses Estimates In November

12/02/2020 - 08:54 AM (RTTNews)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story>>

U.S. Private Sector Employment Rises Less Than Expected In November

12/02/2020 - 08:22 AM (RTTNews)
(RTTNews) - Payroll processor ADP released a report on Wednesday showing private sector employment ...Full Story>>

Do not sell my personal information

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.