(MENAFN) The crisis in Egypt sent the country's economy further into recession as private business activity continued its drop in August for the tenth month in a row, The Peninsula reported.
Egypt Purchasing Manager Index (PMI) increased slightly in August. The PMI rose from 41.7 in July to 42.2 in August. On the index, a figure above 50 indicates expansion, while a figure below 50 indicates contraction.
Output also went up to 36.5 last month from 34.9 in the month before it. The last simultaneous increase in business activity and output was in September 2012.
New orders, however, dropped further in August hitting an 8 month low with 36.3 down from 36.5 in July.
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