In a bowl, combine egg, flour, baking soda, baking powder, cinnamon and nutmeg. In a medium size mixing bowl mix applesauce, honey, pumpkin and water. Gradually add dry mixture to wet mixture, mixing together thoroughly.
Pour into 14 by 8-inch bread pan. Bake at 350 degrees for approximately 50 minutes to 1 hour (when toothpick inserted comes out dry). Cool the bread on a rack. Store in a sealed container.
Optional: Glaze with a small portion of honey and sprinkle with ground peanut crumbs.