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Market Update: Egypt Private Sector Growth Accelerates
The IHS Markit Egypt PMI inched up to 49.8 in August 2021 from 49.1 a month earlier, as both output and new orders grew for second time in three months, amid a rebound in market activity and an increase in tourism numbers as travel reopened. As a result, employment levels rose for the second month running. On the cost side, input price inflation picked up to its highest level in two years, due to rising commodity prices such as metals, timber and plastics. As result, output price inflation accelerated to the fastest rate since August 2018, due to increasing commodity prices, transport costs and customs fees. Meanwhile, purchasing activity expanded for the first time in nine months and at the quickest pace since the series began in April 2011. Lastly, business sentiment remained stronger than its long run trend for the fourth month running. source: Markit Economics [/s2If]
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