Egypt’s non-oil private sector continued to deteriorate during June but at a modest pace that was broadly in line with the trend observed throughout the second quarter of 2017, a survey conducted by Emirates NBD Egypt revealed. “Egypt’s non-oil business continued to deteriorate during June — its 21st consecutive month — but at a modest pace that was broadly in line with the trend observed throughout the second quarter (Q2) 2017,” said the report. The survey, sponsored by Emirates NBD and produced by IHS Markit, contains originaldata collected from a monthly survey of business conditions in the Egyptian private sector. The overall downturn in the non-oil private sector was led by a sharp fall in output, although therate of contraction was only slightly below April’s nine-month low. The non-oil private sector saw a renewed contraction in purchasing activity.

Source: Daily News Egypt July 05, 2017 15:45 UTC