NBD”: Non-oil private sector downturn continues in January”

MASNAA GHAZL

Egypt’s non-oil private sector began 2016 in much the same way that it ended 2015, with business conditions deteriorating for the fourth straight month. Underpinning the downturn were ongoing reductions in output, new orders and employment. Moreover, new work from abroad fell at a marked pace, with panellists commenting on further issues surrounding security.

The lack of incoming new business left firms with little pricing power, as charges were lowered in spite of another sharp rise in total input costs.

The survey, sponsored by Emirates NBD and produced by Markit, contains original data collected from a monthly survey of business conditions in the Egyptian private sector.

CNA – News Service

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