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Egypt Business Activity Rebounds to 4-Month High

A measure of conditions in the non-oil private sector bounced back to the highest in four months thanks to slower rates of decline in new business.
13.07.20 | Source: Bloomberg Business

Business activity in Egypt rebounded in June even as job losses accelerated in an economy just emerging from the coronavirus lockdown.


A measure of conditions in the non-oil private sector bounced back to the highest in four months thanks to slower rates of decline in new business and activity, according to IHS Markit. Its Purchasing Managers’ Index for Egypt rose to 44.6 in June from 40.7 in May, remaining below the threshold of 50 that separates growth from contraction.

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