Economics
Three of Arab World’s Top Economies Slide
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Business conditions in the Arab world’s three largest economies deteriorated further last month amid shutdowns from the coronavirus and a plunge in commodity prices.
Non-oil private sector activity collapsed at an unprecedented pace in Egypt and suffered another record setback in the United Arab Emirates, according to Purchasing Managers’ Index surveys compiled by IHS Markit. Business conditions in Saudi Arabia also remained below the threshold of 50 that separates growth from contraction.