{"id":557079,"date":"2021-09-06T04:00:17","date_gmt":"2021-09-06T04:00:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/06\/egypts-private-sector-is-responding-to-rising-inflation-by-buying-a-lot\/"},"modified":"2021-09-06T04:00:17","modified_gmt":"2021-09-06T04:00:17","slug":"egypts-private-sector-is-responding-to-rising-inflation-by-buying-a-lot","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/06\/egypts-private-sector-is-responding-to-rising-inflation-by-buying-a-lot\/","title":{"rendered":"Egypt\u2019s private sector is responding to rising inflation by buying. A lot."},"content":{"rendered":"

<\/a> Egypt\u2019s non<\/strong>-oil private sector shrank again in August, but at a slower pace than<\/strong> in <\/strong>July:<\/strong> 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 Markit\u2019s Purchasing Managers\u2019 Index (pdf)<\/a><\/sup>. The index rose to 49.8 in August, up slightly from 49.1 in July<\/a>, but still below the 50 mark that separates contraction from expansion.<\/p>\n

This was the first time purchasing activity expanded in nine months<\/strong> and grew at its quickest pace since the survey began in April 2011, IHS Markit said.<\/p>\n

Output and new orders rose for only the second time since December<\/strong>, indicating that businesses are continuing to rebound from the pandemic, the report said. Both metrics remained above their long-run averages for the fourth consecutive month, suggesting that the private sector is in a \u201csecond phase of recovery,\u201d said IHS Markit economist David Owen.<\/p>\n

Fuelling the buying spree: A fear of inflation.<\/strong> Input cost inflation rose to its highest level in two years, leading purchasing managers to rush to build up stock in August ahead of an anticipated further price surge. Businesses pointed to the rise in commodities such as metals, plastics and timber \u2014 as well as anticipated shortages due to pandemic-induced supply chain disruptions \u2014 as factors affecting the uptick. Supply chain pressures also weighed on inventories, which saw a decrease for the first time in three months as firms leveraged their existing stocks in order to boost output.<\/p>\n

Which led to a rise in end prices for consumers:<\/strong> A rise in transport costs and customs fees also led to a markup in prices that were passed on to end-consumers, as firms sought to improve margins.<\/p>\n

Employment increased for the second month running, <\/strong>with survey participants attributing the growth in part to an increase in tourism and a rebound in market activity.<\/p>\n

But growth rates were marginal<\/strong>, with all three indices hovering below the 50 mark and remaining in contraction territory, though more than half of firms surveyed expressed strong optimism that the growth would be sustained over the coming year.<\/p>\n

The latest PMI figures got attention in the foreign press:<\/strong> Reuters<\/a> | Bloomberg<\/a>.<\/p>\n

ELSEWHERE IN THE REGION- Saudi Arabia\u2019s <\/strong>PMI reading (pdf)<\/a><\/strong> dro<\/strong>p<\/strong>ped <\/strong>for the second<\/strong> month running in August<\/strong>, recording 54.1 in August from 55.8 in July \u2014 the slowest growth recorded in five months. Businesses forecast subdued future output, leading to negligible growth and a slow-down in the pace of new stock purchases.<\/p>\n

The UAE\u2019s non-oil private sector saw a <\/strong>decline <\/strong>in its growth rate<\/strong>, with a PMI reading (pdf)<\/a> of 53.8 in August, down from 54.0 in July. Though business activity in the UAE expanded at its fastest rate since July 2019, new covid variants cast a shadow of uncertainty over future demand. But businesses remain optimistic that Dubai\u2019s Expo 2020 could provide the country with an investment boost.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 Markit\u2019s Purchasing Managers\u2019 Index (pdf). […]<\/p>\n","protected":false},"author":1,"featured_media":557080,"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":[104,928,72,182,185],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-employment","tag-enterpriseam","tag-inflation","tag-pmi","wpautop","entry"],"acf":{"mongo_id":"7c1827a5-4098-4159-bc8b-dd4fc46f00fe","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/71.jpg","photo_position":"above","related_issue":[557075],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s private sector is responding to rising inflation by buying. A lot. - 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\/09\/06\/egypts-private-sector-is-responding-to-rising-inflation-by-buying-a-lot\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s private sector is responding to rising inflation by buying. A lot.\" \/>\n<meta property=\"og:description\" content=\"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 Markit\u2019s Purchasing Managers\u2019 Index (pdf). 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Output and new orders inched higher for the second consecutive month from June's lows as clients\u2019 spending constraints began to relax.\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\/9\/126.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573464,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/06\/non-oil-business-activity-hits-12-month-high-in-july\/","url_meta":{"origin":557079,"position":3},"title":"Non-oil business activity hits 12-month high in July","author":"enterpriseam admin","date":"6 August 2020","format":false,"excerpt":"Non-oil business activity hits 12-month high in July: Activity in Egypt\u2019s non-oil private sector contracted at its slowest rate in a year in July as rising output and expanding exports signalled improved business conditions after activity fell to an all-time low at the height of the covid-19 crisis. IHS Markit\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\/8\/32.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":557079,"position":4},"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":[]},{"id":593651,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypts-non-oil-business-activity-improves-marginally-in-september-but-remains-in-contraction-territory\/","url_meta":{"origin":557079,"position":5},"title":"Egypt\u2019s non-oil business activity improves marginally in September, but remains in contraction territory","author":"enterpriseam admin","date":"7 October 2019","format":false,"excerpt":"Non-oil business activity improves marginally in September, but remains in contraction territory: Egypt\u2019s non-oil private sector continued to contract in September, albeit at a slightly lower rate than August, as output fell for the second consecutive month, according to the Markit \/ Emirates NBD 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\/2019\/10\/1525.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\/557079","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=557079"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557079\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/557075"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/557080"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557079"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557079"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}