{"id":543520,"date":"2022-02-06T04:00:24","date_gmt":"2022-02-06T04:00:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/business-activity-contracts-at-a-faster-pace-in-january\/"},"modified":"2022-02-06T04:00:24","modified_gmt":"2022-02-06T04:00:24","slug":"business-activity-contracts-at-a-faster-pace-in-january","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/business-activity-contracts-at-a-faster-pace-in-january\/","title":{"rendered":"Business activity contracts at a faster pace in January"},"content":{"rendered":"

<\/a> Non-oil business activity in Egypt contracted for the fourteenth consecutive <\/strong>month <\/strong>in <\/strong>January <\/strong>on the back of weaker demand and inflationary pressure, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf)<\/a>. A \u201csolid and faster deterioration in business conditions\u201d pushed the gauge down to 47.9 in January from 49.0 in December<\/a>, falling further below the 50.0 mark that separates expansion from contraction.<\/p>\n

This is the lowest reading since April 2021<\/strong>, and below the series average of 48.2, which indicates \u201ca solid decline in overall business conditions,\u201d the report says. \u201cEgypt\u2019s non-oil economy had a disappointing start to the year,<\/strong> as weak demand conditions led to stronger declines in output and new business,\u201d said David Owen, IHS Markit economist.<\/p>\n

Construction, wholesale and retail have been hit particularly hard:<\/strong> January\u2019s data points to \u201csharp falls in output\u201d in construction, wholesale and retail, while the service and manufacturing sectors were \u201cmore stable\u201d by comparison.<\/p>\n

Weak demand driven by inflation: <\/strong>Inflationary pressures continued to weigh heavily on the non-oil sector throughout the month, with the prices of raw materials, components and transport all continuing to rise.<\/p>\n

There\u2019s been a continued decrease in purchasing activity, <\/strong>which fell at its fastest pace since April 2021, and businesses are trying to sustain sales by not fully passing on cost increases.<\/p>\n

And we\u2019re still seeing fewer jobs being created:<\/strong> Employment figures have fallen for the third consecutive month, with lower demand bringing stable backlogs and reduced workloads.<\/p>\n

On the flipside, expectations for future growth are up: <\/strong>Hopes for strong growth in 2022 meant expectations for future output strengthened for the second consecutive month. But while \u201cthe degree of optimism picked up\u201d in January, it still \u201cremained lower than those seen through much of 2021,\u201d said Owen.<\/p>\n

REMEMBER- The Enterprise 2022 reader poll says you\u2019re <\/strong>all quite optimistic<\/a><\/strong> about doing business in Egypt this year.<\/p>\n

ELSEWHERE IN THE REGION-<\/strong> The UAE and Saudi Arabia\u2019s non-oil private sector activity saw strong but slower growth<\/a> in January, as a surge in covid-19 weakened demand. The UAE\u2019s PMI (pdf)<\/a> fell to 54.1 in January from 55.6 in December, off the back of rising covid cases, which led to increased uncertainty and stifled the rebound in tourism, said Owen. Meanwhile, the kingdom\u2019s PMI (pdf)<\/a> fell to 53.2 in January from 53.9 in December \u2014 its lowest level in 15 months.<\/p>\n","protected":false},"excerpt":{"rendered":"

Non-oil business activity in Egypt contracted for the fourteenth consecutive month in January on the back of weaker demand and inflationary pressure, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf). A \u201csolid and faster deterioration in business conditions\u201d pushed the gauge down to 47.9 in January from 49.0 in December, falling further below the […]<\/p>\n","protected":false},"author":1,"featured_media":543521,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[130,818,104,72,182,185,338],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-construction","tag-david-owen","tag-economy","tag-enterpriseam","tag-inflation","tag-pmi","tag-retail","wpautop","entry"],"acf":{"mongo_id":"a533fba9-e013-44ee-8bd9-ad967da1c1e5","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/62.jpg","photo_position":"above","related_issue":[543512],"teaser":"","voice_url":""},"yoast_head":"\nBusiness activity contracts at a faster pace in January - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/business-activity-contracts-at-a-faster-pace-in-january\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Business activity contracts at a faster pace in January\" \/>\n<meta property=\"og:description\" content=\"Non-oil business activity in Egypt contracted for the fourteenth consecutive month in January on the back of weaker demand and inflationary pressure, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf). 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Business activity contracted at a slightly slower pace during the month, with the index inching\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/99.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570557,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/06\/egypts-non-oil-private-sector-activity-falls-to-three-year-lows-as-covid-19-hits-output-new-orders\/","url_meta":{"origin":543520,"position":4},"title":"Egypt\u2019s non-oil private sector activity falls to three-year lows as covid-19 hits output, new orders","author":"enterpriseam admin","date":"6 April 2020","format":false,"excerpt":"Stung by covid-19 outbreak, non-oil business activity falls to three-year lows on declining output, dearth of new orders: Egypt\u2019s non-oil business activity continued to shrink in March as the the covid-19 pandemic caused \u201csharp downturns\u201d in output and new orders, according to IHS Markit\u2019s purchasing managers\u2019 index (PMI) (pdf). The\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/44.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565364,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/05\/private-sector-business-contracts-again-but-the-outlook-is-rosier\/","url_meta":{"origin":543520,"position":5},"title":"Private sector business contracts again, but the outlook is rosier","author":"enterpriseam admin","date":"5 April 2021","format":false,"excerpt":"Egypt\u2019s non-oil private sector continued to contract for the fourth consecutive month in March, but optimism reached new highs as the vaccine rollout picked up steam in recent weeks, according to IHS Markit purchasing managers\u2019 index (PMI) figures (pdf). The purchasing managers\u2019 index (PMI) gauge dropped to 48.0 last month,\u2026","rel":"","context":"In "SPEED ROUND: ECONOMY"","block_context":{"text":"SPEED ROUND: ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/333.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543520"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543520\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/543521"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543520"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543520"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}