Economic Indicators

Egypt’s non-oil private sector extends contraction in September -PMI

2022.10.04 00:44



© Reuters. FILE PHOTO: A view of the city skyline and River Nile from Cairo tower building in the capital of Cairo, Egypt December 5, 2019. REUTERS/Amr Abdallah Dalsh

CAIRO (Reuters) – Egypt’s non-oil private sector shrank for the 22nd month in a row in September as the country’s faltering economy weighed on business, a survey showed on Tuesday.

The S&P Global (NYSE:) Egypt Purchasing Managers’ Index (PMI) was unchanged from August at 47.6, well below the 50.0 threshold that separates growth from contraction.

“Business conditions in Egypt’s non-oil economy remained under strain from inflationary pressures, energy rationing, import restrictions and weak demand at the end of the third quarter,” S&P Global said.

Egypt has been suffering a severe shortage of foreign currency, and the government has dimmed lights in city squares and ordered shops and malls to close early to save for export.

The PMI’s sub-index for overall input prices worsened to 64.6 from 58.8 in August, while that for purchase costs deteriorated to 64.5 from 60.8.

Egypt’s annual urban consumer inflation accelerated to 14.6% year-on-year in August from 13.6% year-on-year in July, the state statistics agency reported last month.

Output and new orders in September extended a contraction that has gone on since August of last year, with the output index dipping to 45.4 from 45.8 the previous month and the index for new orders rising to 45.9 from 45.1.

“Non-oil activity in Egypt continued to suffer from weak demand, geopolitical tensions and surging inflation in the final month of the third quarter,” said S&P Global economist Shreeya Patel.

The sub-index for future output expectations improved marginally to 55.7 from 53.5, but remained near a 10-year low of 52.5 recorded in March.



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,785.47 0.19%
ethereum
Ethereum (ETH) $ 3,409.56 2.00%
tether
Tether (USDT) $ 1.00 0.14%
solana
Solana (SOL) $ 258.25 0.21%
bnb
BNB (BNB) $ 669.38 6.95%
xrp
XRP (XRP) $ 1.53 5.47%
dogecoin
Dogecoin (DOGE) $ 0.466764 15.30%
usd-coin
USDC (USDC) $ 1.00 0.09%
cardano
Cardano (ADA) $ 1.07 17.48%
staked-ether
Lido Staked Ether (STETH) $ 3,402.66 1.88%
tron
TRON (TRX) $ 0.219904 10.03%
avalanche-2
Avalanche (AVAX) $ 42.72 10.05%
shiba-inu
Shiba Inu (SHIB) $ 0.000027 7.66%
the-open-network
Toncoin (TON) $ 5.79 4.65%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,028.47 2.01%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,244.32 0.12%
stellar
Stellar (XLM) $ 0.4356 48.00%
polkadot
Polkadot (DOT) $ 8.09 30.87%
chainlink
Chainlink (LINK) $ 17.45 13.19%
bitcoin-cash
Bitcoin Cash (BCH) $ 531.81 9.58%
sui
Sui (SUI) $ 3.55 0.96%
weth
WETH (WETH) $ 3,404.68 1.95%
pepe
Pepe (PEPE) $ 0.000022 5.16%
leo-token
LEO Token (LEO) $ 8.60 0.78%
near
NEAR Protocol (NEAR) $ 6.38 12.65%
litecoin
Litecoin (LTC) $ 102.85 12.76%
aptos
Aptos (APT) $ 12.75 5.87%
uniswap
Uniswap (UNI) $ 10.66 12.30%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,579.70 1.84%
hedera-hashgraph
Hedera (HBAR) $ 0.151207 13.25%
internet-computer
Internet Computer (ICP) $ 11.61 17.87%
crypto-com-chain
Cronos (CRO) $ 0.194889 3.17%
usds
USDS (USDS) $ 1.00 0.20%
ethereum-classic
Ethereum Classic (ETC) $ 30.38 7.97%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.559878 20.05%
kaspa
Kaspa (KAS) $ 0.162854 9.33%
render-token
Render (RENDER) $ 7.80 6.85%
bittensor
Bittensor (TAO) $ 529.31 5.30%
bonk
Bonk (BONK) $ 0.000051 1.23%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.21%
whitebit
WhiteBIT Coin (WBT) $ 24.67 0.85%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.36 7.10%
arbitrum
Arbitrum (ARB) $ 0.85497 5.60%
dogwifcoin
dogwifhat (WIF) $ 3.51 5.10%
mantra-dao
MANTRA (OM) $ 3.85 4.58%
dai
Dai (DAI) $ 1.00 0.12%
vechain
VeChain (VET) $ 0.042423 28.49%
cosmos
Cosmos Hub (ATOM) $ 8.08 14.76%
blockstack
Stacks (STX) $ 2.10 7.72%
filecoin
Filecoin (FIL) $ 5.21 11.03%