{"id":575196,"date":"2020-10-06T04:07:52","date_gmt":"2020-10-06T04:07:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/"},"modified":"2020-10-06T04:07:52","modified_gmt":"2020-10-06T04:07:52","slug":"egypts-private-sector-recovery-gets-back-on-track-in-september","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/","title":{"rendered":"Egypt\u2019s private sector recovery gets back on track in September"},"content":{"rendered":"

<\/a> Egypt\u2019s non-oil private sector expanded for the first time in 14 months in September <\/strong>on the back of a rise in consumer demand and strengthened business activity, according to IHS Markit PMI figures (pdf)<\/a>. The gauge rose to 50.4 from 49.4 in August<\/a>, indicating the first month of economic expansion since July 2019. The figure is only marginally above the 50.0 mark that separates expansion from contraction but is \u201cstrongly above\u201d the trending average of 48.1, said David Owen, economist at IHS Markit. \u201cThis suggests that the non-oil economy is seeing a modest turnaround after the devastating impact of the covid-19 pandemic,\u201d he said. The recovery from April\u2019s collapse in business activity<\/a> has been uneven: Activity improved in July<\/a> (but didn\u2019t break into growth territory) before falling back in August<\/a> due to a sharp increase in job cuts and slowing output and sales growth.<\/p>\n

Sales grew at the fastest pace in more than five years last month<\/strong> as the government continued to ease its covid-19 restrictions. New orders and export sales also experienced strong growth, helping the private sector to record a rise in new business for the third consecutive month.<\/p>\n

The rate of job cuts fell to a 10-month low as businesses ramped up hiring<\/strong>, signaling \u201ca stronger outlook for employment in the last quarter of the year,\" Owen said. Backlogs rose for the fifth consecutive month, indicating a resumption of demand and some pressures on production capacity that could mean hiring is on the radar for some firms.<\/p>\n

Stock levels ended a nine-month run of depletion: <\/strong>Companies reported that stock levels were unchanged from August, partly due to new orders allowing some companies to draw up stocks to boost output.<\/p>\n

Sentiment remains down:<\/strong> Expectations for the next 12 months were unchanged from August, when sentiment fell to its lowest level since May. Little more than a third (36%) of businesses expressed confidence that business conditions will improve during the period.<\/p>\n

Sentiment also improved in the GCC<\/strong>, where Saudi Arabia and the UAE also recorded higher PMI figures. Private sector conditions improved for the third time in the past four month in the UAE (pdf)<\/a>, while Saudi\u2019s (pdf)<\/a> posted the first monthly expansion since February. Bloomberg has more on the figures here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt\u2019s non-oil private sector expanded for the first time in 14 months in September on the back of a rise in consumer demand and strengthened business activity, according to IHS Markit PMI figures (pdf). The gauge rose to 50.4 from 49.4 in August, indicating the first month of economic expansion since July 2019. The figure […]<\/p>\n","protected":false},"author":1,"featured_media":575197,"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":[104,72,6026,185,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575196","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-economy","tag-enterpriseam","tag-ihs-markit-pmi-figures","tag-pmi","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"7cf2f09d-16bf-411e-b934-a93fa98707dc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/10\/55.jpg","photo_position":"above","related_issue":[575191],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s private sector recovery gets back on track in September - 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\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/\" \/>\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 recovery gets back on track in September\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s non-oil private sector expanded for the first time in 14 months in September on the back of a rise in consumer demand and strengthened business activity, according to IHS Markit PMI figures (pdf). The gauge rose to 50.4 from 49.4 in August, indicating the first month of economic expansion since July 2019. The figure […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-06T04:07:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/55.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s private sector recovery gets back on track in September\",\"datePublished\":\"2020-10-06T04:07:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/\"},\"wordCount\":380,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/55.jpg?fit=%2C&ssl=1\",\"keywords\":[\"economy\",\"EnterpriseAM\",\"IHS Markit PMI figures\",\"PMI\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/06\/egypts-private-sector-recovery-gets-back-on-track-in-september\/\",\"name\":\"Egypt\u2019s private sector recovery gets back on track in September - 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The PMI gauge remained above the 50.0 mark which separates expansion from contraction for the third\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\/2020\/12\/88.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":575196,"position":1},"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. 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The gauge rose to 51.4 from 50.4 in September, a level comfortably\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\/11\/56.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569696,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/non-oil-private-sector-continues-to-shrink-on-falling-output-export-orders\/","url_meta":{"origin":575196,"position":3},"title":"Non-oil private sector continues to shrink on falling output, export orders","author":"enterpriseam admin","date":"4 March 2020","format":false,"excerpt":"Non-oil private sector continues to shrink on falling output, export orders: Business activity in Egypt's non-oil private sector remained in contraction in February as export orders continued to fall and output dropped, according to the IHS Markit purchasing managers\u2019 index (PMI) (pdf). The rate of contraction improved marginally from January,\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\/3\/53.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574293,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/06\/private-sector-recovery-stalls-in-august\/","url_meta":{"origin":575196,"position":4},"title":"Private sector recovery stalls in August","author":"enterpriseam admin","date":"6 September 2020","format":false,"excerpt":"The recovery of Egypt\u2019s non-oil private sector stalled in August despite growth in output and demand, according to IHS Markit PMI figures(pdf). The index had reached a one-year high of 49.6 in July as business conditions rebounded following the covid-19 lockdown but fell back fractionally to 49.4 last month amid\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\/9\/66.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566667,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/06\/nearly-there\/","url_meta":{"origin":575196,"position":5},"title":"Nearly there","author":"enterpriseam admin","date":"6 July 2021","format":false,"excerpt":"Egypt\u2019s non-oil private sector was a dog\u2019s hair away from expansion in June, as conditions showed signs of stabilizing at the end of 1H2021, according to IHS Markit\u2019s purchasing managers\u2019 index survey (pdf). The PMI gauge rose to 49.9, from 48.6 in May, only 0.1 shy of the 50.0 mark\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\/7\/337.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\/575196","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=575196"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/575196\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/575191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/575197"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=575196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=575196"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=575196"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=575196"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=575196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}