Economics
Saudi, Egypt Business Activity Improves as UAE Dealt Setback
- Egypt private sector activity rose at fastest pace since 2014
- Concerns remain over job losses and new Covid-related curbs
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Business activity in Egypt grew at its fastest pace in almost six years, buoyed by an uptick in new orders, while Saudi Arabia saw a second month of milder improvements.
In the United Arab Emirates, meanwhile, non-oil private sector activity fell below the threshold of 50 that separates growth from contraction for the first time since August, according to IHS Markit’s Purchasing Managers’ Index. Concerns over further unemployment and renewed lockdowns continued to dog the three major Arab economies.