|Business activity in Egypt grew at its sharpest rate in eight months in August, a survey showed on Wednesday, as the economy rebounded strongly from the initial shock of cuts in energy subsidies last month. Egypt's economy has been hit by more than three years of political and economic turmoil following the 2011 uprising that toppled Hosni Mubarak after 30 years in power. The HSBC Egypt Purchasing Managers Index (PMI) for the non-oil private sector stood at 51.6 points in August, its most marked improvement since December 2013. "After last month's setback, the strong scores for output and orders are encouraging," said Simon Williams, Chief Economist for the Middle East at HSBC, commenting on the Egypt PMI survey.|
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