Egypt’s industrial production retreated 2.3% y-o-y in 2Q2016 -CAPMAS

Egypt’s non-oil output retreated 2.3% year-on-year in 2Q2016 to EGP 91.8 bn, according to CAPMAS figures released yesterday. Food production, which the state statistics agency says is the largest non-oil sector in the country, fell 2.1% y-o-y but rose 0.5% from the previous quarter on the back of a pre-Ramadan ramp-up in production, the agency says. Pharma was the only sector whose production output increased y-o-y.