On Lebanon, Macron told Trump sanctions can play into Iran's hands, official says    Shooting heard at scene of demonstrations in central Beirut    Tennis: Martic sets up semi-final against Kontaveit in Palermo    Algeria eases coronavirus restrictions, including travel curbs and curfew    Lebanon's Aoun, UK's Johnson agree to work on recovery from blast    Gold prices in Egypt decline significantly on Saturday    Egypt cancels tender for establishing 200MW power plant in West Nile    Juventus will evaluate everything, says club president    Russia's Sberbank structures Islamic trade finance deal to supply wheat to Egypt    A statement victory from Manchester City but Guardiola keeps his cool    Egyptian expats to vote for Senate elections by mail starting Sunday    Egypt records 141 new coronavirus cases, 20 deaths on Friday    Beijing's HK office says US sanctions "clowning actions" as tensions escalate    Lebanon navigates food challenge with no grain silo and few stocks    Microsoft could buy TikTok for as much as $30 billion    Around 50,000 tourists visited Sharm El-Sheikh, Hurghada since easing lockdown    Trump issues executive orders banning WeChat and TikTok in 45 days    Egypt, Greece sign maritime demarcation agreement    Africa passes 1M confirmed virus cases; true number far more    Philippines records most coronavirus cases in eastern Asia after new surge    Egypt's net foreign reserves edge up to $38.315 bln in July: Central Bank    IMF says exploring ways to aid Lebanon, calls for movement on reforms    Call for submissions for Egypt's 'Golden Talent' competition for people with special needs    South Africa calls for 'amicable solution' for GERD    Egypt records 123 new coronavirus cases, 18 deaths on Wednesday    Egypt rejects Ethiopia's latest proposal on GERD: Irrigation ministry    Don't miss the concerts of Boghdady Jazz Big band    My visual diary    African Champions League final will be played on Oct. 16-17, CAF says    Egypt invites Tesla's founder to visit Giza Pyramids after controversial tweets    Sisi: Egypt favours negotiations over a military solution to resolve Nile dam crisis: Al-Sisi    No room to delay Egyptian Premier League games – EFA's board member    Egypt's President Sisi ratifies extending state of emergency for 3 months    Egypt Cup games to resume after Premier League finishes: EFA    The Facebook Preacher's Search for Fame, and Egypt's Economy    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Google ‘translate' ancient Egyptian hieroglyphs    Zaha speaks out after online racial abuse    Farwell to 74-year old Egyptian military production minister El-Assar    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Egyptian non-oil private sector stabilises in January
New export orders register renewed rise amid greater demand from international markets
Published in Daily News Egypt on 05 - 02 - 2018

Following a deterioration in December, business conditions in the Egyptian non-oil private sector broadly stabilised in January, Purchasing Managers' Index (PMI) data released by Emirates NBD on Monday suggested.
This mainly reflected stabilisation in both output and new orders. Concurrently, new export orders registered a renewed rise amid reports of greater demand from international markets. Furthermore, firms engaged in input buying, with growth picking up to the fastest since August 2014.
On the price front, rates of both input cost and output charge inflation accelerated.
The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the Egyptian private sector.
Commenting on the Egypt PMI survey, Daniel Richards, MENA economist at Emirates NBD, said: "While Egypt's headline PMI reading remained just shy of the 50.0 neutral mark in January, the signs are encouraging as we begin 2018. A pickup in new export orders in particular stands as an indication that the difficult economic reforms enacted in late 2016 are starting to pay off."
The headline seasonally adjusted Emirates NBD Egypt PMI—a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy—rose from 48.3 in December to 49.9 in January.
This was consistent with a broad stabilisation of business conditions across Egypt's non-oil private sector.
Both indices registered close to the neutral 50.0 threshold, following reductions in the previous month.
Where increases were reported, firms commented on new client wins, while those companies that registered lower new orders and output pointed to unfavourable economic conditions and high prices.
At the same time, Egypt's non-oil private sector recorded a renewed expansion in new export orders during January.
Stronger demand for Egyptian goods and services from international markets was cited as the key reason behind the latest increase in new export orders.
That said, the rate of growth was marginal. Continuing the trend observed since June 2015, staffing levels fell during January. However, the pace of job shedding was marginal and slower than the ongoing trend.
Private sector firms continued to face higher input costs. Despite accelerating to a three-month high, inflation remained below the ongoing trend. According to anecdotal evidence, currency weakness contributed to greater cost pressures.
Amid reports of expected improvements in demand, firms were encouraged to engage in purchasing activity at the start of the year. Furthermore, the rate of expansion accelerated to the strongest since August 2014 and was marked overall. Nonetheless, input stocks declined, albeit fractionally.
Lastly, companies retained optimism towards the 12-month outlook for output. Furthermore, the degree of positive sentiment was stronger than average.
Anticipated improvements in demand conditions and market stability were cited as the key factors behind optimism.


Clic here to read the story from its source.