Egypt’s non-oil private sector index fell at its fastest rate in nearly three years in January, despite the banking sector flourishing and optimism over the future of the Egyptian pound.
According to a report published by the IHS Markit Egypt Purchasing Managers’ Index (PMI), this decline is the lowest in 34 months, as the sector's activity in Egypt decreased from 48.2 in December to 46.0 in January, indicating a strong decline in sales.
