Worst May Be Over for Biggest Arab Economies as Businesses Adapt

Business conditions in the Arab world’s three largest economies deteriorated at a slower pace in May as governments began to lift some lockdown restrictions while companies adjusted by slimming down staff and cutting salaries.

Following a pandemic-driven plunge, non-oil private sector activity improved in Saudi Arabia, Egypt and the United Arab Emirates, according to Purchasing Managers’ Index surveys compiled by IHS Markit. The gauge in each country still remained below the threshold of 50 that separates growth from contraction.