{"id":553482,"date":"2021-12-06T03:50:53","date_gmt":"2021-12-06T03:50:53","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/06\/rising-inflation-weighs-on-private-sector-activity-in-november\/"},"modified":"2021-12-06T03:50:53","modified_gmt":"2021-12-06T03:50:53","slug":"rising-inflation-weighs-on-private-sector-activity-in-november","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/06\/rising-inflation-weighs-on-private-sector-activity-in-november\/","title":{"rendered":"Rising inflation weighs on private sector activity in November"},"content":{"rendered":"

<\/a> Egypt\u2019s non-oil business activity shrank \u201cmoderately\u201d during November<\/strong>, with a closely followed gauge of business conditions unchanged from the month prior as supply chain bottlenecks and inflationary pressures continued to weigh on private sector firms. The IHS Markit Purchasing Managers\u2019 Index (PMI) (pdf)<\/a> remained at 48.7 last month, marking the twelfth consecutive month it has been below the 50.0 mark that separates expansion from contraction.<\/p>\n

Inflationary pressures and global supply chain shortages were mostly to blame<\/strong>, with new business falling at the quickest pace in six months. Output fell for the third month in a row, as output price inflation rose at the second-fastest pace since mid-2018, providing a challenging outlook for future prices. Inflation has inched up in recent months, reaching a 20-month high in September<\/a>, and although the headline rate fell back slightly in October<\/a> food and fuel price growth remained elevated.<\/p>\n

Higher costs, mixed demand signals:<\/strong> The cost of shipping, energy and raw materials continued to rise sharply, leading to more expensive end-products. Input cost inflation was at its second fastest in over three years. \u201cHigher selling prices deterred client spending in the domestic economy,\u201d said David Owen, IHS Markit economist. New order volumes fell at their fastest rate since May, but export volumes rose for the first time since August.<\/p>\n

Vendor performance went into reverse for the first time since June <\/strong>due to global supply chain disruptions. Meanwhile, a slowdown in sales prompted companies to tone down their purchases, further depleting their stock inventories.<\/p>\n

Employment fell back <\/strong>after rising steadily for the past four months. Decreased demand has led to reduced workloads, so employers are opting to cut expenses by keeping vacant job positions open. As a result, backlogs of work piled up at the fastest rate since November 2020.<\/p>\n

Motive to decrease overheads: Salary costs are on the rise<\/strong> for the third month running, as companies raise wages to keep up with rising living expenses.<\/p>\n

Expectations for future output are now at their lowest level in a year<\/strong>, with Egyptian firms expecting higher inflation to suppress improvement in activity over the upcoming year. Reuters<\/a> also had the story.<\/p>\n

ELSEWHERE IN THE REGION- Saudi Arabia\u2019s non-oil private sector expanded at one of its <\/strong>quickest paces since the pandemic in November<\/strong>, and although the rate of expansion dipped slightly from the previous month, businesses continued to see \u201cstrong demand\u201d and \u201cmodest\u201d price increases, according to its PMI (pdf)<\/a>.<\/p>\n

** ICYMI-<\/strong> We featured the brains behind Egypt\u2019s PMI indicator \u2014 IHS Markit economist David Owen \u2014 in last week\u2019s My Morning Routine column. Check it out here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s non-oil business activity shrank \u201cmoderately\u201d during November, with a closely followed gauge of business conditions unchanged from the month prior as supply chain bottlenecks and inflationary pressures continued to weigh on private sector firms. The IHS Markit Purchasing Managers\u2019 Index (PMI) (pdf) remained at 48.7 last month, marking the twelfth consecutive month it has […]<\/p>\n","protected":false},"author":1,"featured_media":553483,"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":[818,104,72,182,185,219,239],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-david-owen","tag-economy","tag-enterpriseam","tag-inflation","tag-pmi","tag-saudi-arabia","tag-supply-chain","wpautop","entry"],"acf":{"mongo_id":"f6572964-fd33-4870-9d6d-f1bb1d364abb","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/229.jpg","photo_position":"above","related_issue":[553478],"teaser":"","voice_url":""},"yoast_head":"\nRising inflation weighs on private sector activity in November - 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\/2021\/12\/06\/rising-inflation-weighs-on-private-sector-activity-in-november\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rising inflation weighs on private sector activity in November\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s non-oil business activity shrank \u201cmoderately\u201d during November, with a closely followed gauge of business conditions unchanged from the month prior as supply chain bottlenecks and inflationary pressures continued to weigh on private sector firms. 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The index\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\/2021\/11\/324.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542598,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/pmi-outlook-improves-but-remains-in-contraction-territory\/","url_meta":{"origin":553482,"position":2},"title":"PMI outlook improves, but remains in contraction territory","author":"enterpriseam admin","date":"5 January 2022","format":false,"excerpt":"Egypt\u2019s non-oil business activity \u201cinched closer to stabilisation\u201d in December, contracting at its slowest pace in four months, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf). An easing of inflationary pressures, increase in export revenues, and uptick in tourism supported new business, though subdued demand and lower output continued\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\/1\/76.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576986,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/06\/private-sector-activity-contracts-for-23rd-consecutive-month\/","url_meta":{"origin":553482,"position":3},"title":"Private sector activity contracts for 23rd consecutive month","author":"enterpriseam admin","date":"6 November 2022","format":false,"excerpt":"Activity in Egypt\u2019s non-oil private sector continued to contract in October, remaining effectively unchanged from the month before as inflation, supply disruptions, and falling demand abroad continued to weigh on businesses, according to S&P Global\u2019s purchasing managers\u2019 index (pdf). The PMI index registered 47.7 last month, climbing just 0.1 points\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\/11\/87.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557079,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/06\/egypts-private-sector-is-responding-to-rising-inflation-by-buying-a-lot\/","url_meta":{"origin":553482,"position":4},"title":"Egypt\u2019s private sector is responding to rising inflation by buying. A lot.","author":"enterpriseam admin","date":"6 September 2021","format":false,"excerpt":"Egypt\u2019s non-oil private sector shrank again in August, but at a slower pace than in July: Business activity in Egypt\u2019s non-oil private sector contracted for the ninth straight month in August \u2014 but a record surge in corporate spending and a pick-up in demand softened the decline, according to IHS\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\/2021\/9\/71.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545629,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/06\/inflation-hits-private-sector-activity-in-march\/","url_meta":{"origin":553482,"position":5},"title":"Inflation hits private sector activity in March","author":"enterpriseam admin","date":"6 April 2022","format":false,"excerpt":"Activity in Egypt\u2019s non-oil private sector saw its sharpest decline in 21 months in March as the effects of the Russia-Ukraine war and the devaluation of the EGP hit output and new orders, according to S&P Global\u2019s purchasing managers\u2019 index (PMI) survey (pdf). Rising inflation and slowing demand caused activity\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\/4\/136.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553482","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=553482"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553482\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/553478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/553483"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=553482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=553482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=553482"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=553482"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=553482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}