{"id":570557,"date":"2020-04-06T04:46:14","date_gmt":"2020-04-06T04:46:14","guid":{"rendered":"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\/"},"modified":"2020-04-06T04:46:14","modified_gmt":"2020-04-06T04:46:14","slug":"egypts-non-oil-private-sector-activity-falls-to-three-year-lows-as-covid-19-hits-output-new-orders","status":"publish","type":"post","link":"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\/","title":{"rendered":"Egypt\u2019s non-oil private sector activity falls to three-year lows as covid-19 hits output, new orders"},"content":{"rendered":"

<\/a> Stung by covid-19 outbreak, non-oil business activity falls to three-year lows on <\/strong>declining<\/strong> output, dearth of new orders:<\/strong> 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)<\/a>. The PMI gauge fell to 44.2 in March from 47.1 in February<\/a>, marking a sharp deterioration in business conditions at the end of the first quarter of the year and the lowest reading since January 2017. A reading above 50.0 indicates that activity is expanding, while a reading below means it is contracting.<\/p>\n

Output fell at the fastest rate in more than three years<\/strong> as businesses struggled amid depressed demand. Domestic orders fell due to low employment, businesses said, while export volumes declined at the quickest pace in more than seven years.<\/p>\n

Input purchases saw their biggest monthly decline in over three years<\/strong>, with some businesses reporting difficulty getting production inputs thanks to the shuttering of Chinese factories.<\/p>\n

A hike in input costs was attributed to rising cost inflationary pressures<\/strong>, mainly due to the appreciation of the USD, and an uptick in the price of raw materials. It was tempered, however, by other price reductions \u2014 with oil prices being the most significant. This allowed businesses to reduce output prices albeit at a lower rate than seen in February.<\/p>\n

Vendor performance fell for Egyptian businesses as well <\/strong>due to travel disruptions and Chinese factory closures. While the rate of deterioration was modest, it was also the swiftest for 19 months.<\/p>\n

Employment fell for the fifth month in a row. <\/strong>Employees left businesses for other jobs and these roles were not replaced due to lower sales, causing a \u201csolid drop\u201d in workforces.<\/p>\n

Firms were largely negative in their assessment of future prospects with no end in sight for covid-19.<\/strong> Confidence levels reached series lows as many feared an enduring impact on the domestic and global economy.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 PMI gauge fell to 44.2 […]<\/p>\n","protected":false},"author":1,"featured_media":570558,"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":[8572],"tags":[107,72,185,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-covid-19","tag-enterpriseam","tag-pmi","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4568332b-f586-4c60-be86-0837d4d149b0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/4\/44.png","photo_position":"above","related_issue":[570552],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s non-oil private sector activity falls to three-year lows as covid-19 hits output, new orders - 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\/2020\/04\/06\/egypts-non-oil-private-sector-activity-falls-to-three-year-lows-as-covid-19-hits-output-new-orders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s non-oil private sector activity falls to three-year lows as covid-19 hits output, new orders\" \/>\n<meta property=\"og:description\" content=\"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). 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The gauge fell for the fourth consecutive month\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\/12\/1837.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571278,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/06\/non-oil-business-activity-plummets-to-all-time-low-in-april-as-lockdown-measures-begin-to-bite\/","url_meta":{"origin":570557,"position":1},"title":"Non-oil business activity plummets to all-time low in April as lockdown measures begin to bite","author":"enterpriseam admin","date":"6 May 2020","format":false,"excerpt":"Non-oil business activity plummets to all-time low in April as lockdown measures bite: Egypt\u2019s non-oil business activity fell at an \u201cunprecedented rate\u201d in April as government measures to stem the covid-19 outbreak caused a \u201csevere decline\u201d in business conditions, according to IHS Markit\u2019s purchasing managers\u2019 index (PMI) (pdf). 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The PMI gauge dipped marginally to 49.2 in\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\/11\/1027.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559052,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/06\/covid-bites-once-again\/","url_meta":{"origin":570557,"position":3},"title":"Covid bites once again","author":"enterpriseam admin","date":"6 January 2021","format":false,"excerpt":"Egypt\u2019s non-oil private sector recovery stalled again in December as covid-19 cases climbed steadily throughout the month, causing muted consumer demand, according to IHS Markit\u2019s purchasing manager\u2019s index (PMI) (pdf). The PMI gauge fell to 48.2 in December, down from 50.9 in November, signaling a \u201cmoderate deterioration\u201d in business conditions\u2026","rel":"","context":"In "SENTIMENT"","block_context":{"text":"SENTIMENT","link":"https:\/\/enterpriseam.com\/egypt\/category\/sentiment\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/70.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601642,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/06\/egypts-non-oil-business-activity-falls-to-17-month-low-pmi\/","url_meta":{"origin":570557,"position":4},"title":"Egypt\u2019s non-oil business activity falls to 17-month low: PMI","author":"enterpriseam admin","date":"6 March 2019","format":false,"excerpt":"Non-oil business activity falls to 17-month low, sentiment hits 10-month high: The Egypt purchasing managers\u2019 index (PMI) contracted for the sixth consecutive month in February to reach a 17-month low, according to Markit \/ Emirates NBD data. The index fell to 48.2 last month from 48.5 in January, \u201csignalling a\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\/3\/715.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572732,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/07\/business-activity-in-egypt-started-to-stabilize-in-june-after-the-calamitous-plunge-in-may-that-came-with-the-countrys-covid-lockdown\/","url_meta":{"origin":570557,"position":5},"title":"Business activity in Egypt started to stabilize in June after the calamitous plunge in May that came with the country\u2019s covid lockdown","author":"enterpriseam admin","date":"7 July 2020","format":false,"excerpt":"Business activity in Egypt began to stabilize in June after the calamitous plunge in May that came with the country\u2019s covid lockdown, according to IHS Markit\u2019s purchasing managers\u2019 (PMI) index (pdf). Four months into the pandemic, business conditions in Egypt\u2019s non-oil private sector remained uncertain in June: improving output and\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\/7\/40.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\/570557","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=570557"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/570557\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/570552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/570558"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=570557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=570557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=570557"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=570557"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=570557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}