"Tough times in Egypt: on top of all the political turmoil, the latest manufacturing index has fallen off a cliff to its second-lowest since the numbers began.
The Markit/HSBC purchasing managers’ index came in at a lowly 41.7 in July, down from 47.5 in June (50 marks the border between expansion and contraction) The longer the political uncertainly goes on, the harder it will be for Egypt to recover.
The country’s non-oil manufacturing sector saw a decline in employment for the 15th consecutive month, while both output and new orders saw their second-sharpest drop in the 28-month history of the index.
'via Blog this'
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