Egypt business conditions worsen in December amid second COVID-19 wave: IHS Markit
Published 05 Jan,2021 via Daily News Egypt - Egypt’s non-oil businesses saw a renewed decline in operating conditions during December 2020, reflecting solid falls in both output and new orders, on the back of rising cases of the novel coronavirus (COVID-19).
The rise in cases sparked a commensurate reduction in client demand. Notably, the downturn led to a build-up of excess inputs, with inventories rising at the strongest rate since June 2012.
Employment cuts meanwhile accelerated to the fastest seen in four months, although increased hopes surrounding COVID-19 vaccines meant firms were more optimistic of a recovery during 2021.
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Daily News Egypt