Egypt’s non-oil private activity contracts by less in May: PMI – ZAWYA

Egypt’s non-oil private activity contracts by less in May: PMI – ZAWYA

The coronavirus has virtually shut down Egyptian tourism, which accounts for about 5% of the economy, with no scheduled flights to Egypt since March 19.. "The outlook for activity in 12 months' time weakened from April, although it remained higher than March's recent low," IHS Markit said. ". "Output and new orders fell again as private sector demand remained broadly stagnant," said IHS Markit economist David Owen.. Output dropped to 40.6 in March from 46.2 in February and new orders to 40.2 from 46.2..