FINANCIAL NEWS

Egypt’s non-oil sector decline continues in June

14 Jul 2016

(MENAFN) The downturn in Egypt’s non-oil private sector emphasized signs for being declined amid mid-2016.

However, business conditions worsened for the ninth consecutive month, driven by declines in output and new orders, as well as underemployment.

Accordingly, the Egyptian economy continued to drop at the end of financial year 2015/2016, with the tourism sector appearing especially weak.

In addition, Q2 average of 47.3 points was higher than those seen in Q1 2016, which posted 46.9, compared to Q4 2015 that recorded 46.8.

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