{"id":595773,"date":"2019-08-06T04:00:48","date_gmt":"2019-08-06T04:00:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/egypts-non-oil-business-activity-grows-in-july-after-two-months-of-contraction\/"},"modified":"2019-08-06T04:00:48","modified_gmt":"2019-08-06T04:00:48","slug":"egypts-non-oil-business-activity-grows-in-july-after-two-months-of-contraction","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/egypts-non-oil-business-activity-grows-in-july-after-two-months-of-contraction\/","title":{"rendered":"Egypt\u2019s non-oil business activity grows in July after two months of contraction"},"content":{"rendered":"

<\/a> Non-oil business activity grows in July after two months of contraction: <\/b>A slight growth in output and new orders in July brought non-oil business activity back to expansion territory after two months of contraction,according to the Markit \/ Emirates NBD purchasing managers' index (PMI) gauge (pdf)<\/a>. July\u2019s PMI hit 50.3, rising from June\u2019s 49.2 reading. A reading above 50.0 indicates that activity is expanding, while a reading below that mark means it is contracting.<\/p>\n

Export orders posted their strongest growth in 20 months:<\/b> Total new business from abroad rose for the first time since August, with clients from the Middle East, Africa and Europe placing greater numbers of new orders at \u201cthe sharpest pace\u201d in a year and a half. \u201cThe rise in demand came from a number of countries, signalling that Egyptian businesses are growing in their competitiveness on trade,\u201d said David Owens, economist at IHS Markit.<\/p>\n

Companies boosted output amid higher orders at the start of the third quarter<\/b>, driving increased activity.\u201cPanellists often noted increased market activity and the introduction of new export contracts as reasons for stronger sales,\u201d the release says. Firms also concurrently stepped up purchasing activity, creating \u201cthe most marked\u201d increase in six month, amid more output requirements and fears over future input prices.<\/p>\n

Employment continued to decline in July<\/b>, but only witnessed a marginal fall similar to the previous month. A rise in retirement and voluntary leave offset new hires to meet higher sales volume. Staff costs increased at the fastest pace in six months.<\/p>\n

Input cost inflation jumped at the highest rate in three quarters<\/b>,largely as a result of the recent fuel subsidy cuts, which were in part passed onto consumers. \u201cIt is likely that the impact on costs will be temporary, with the rate of inflation possibly returning to its relatively low level seen during the first half of 2019,\u201d Owens said.<\/p>\n

Outlook:<\/b> Sentiment around future output improved from June\u2019s five-month low, as more businesses reported a positive outlook on hopes of higher market activity and a fall in the value of the USD. That said, rising fuel costs weighed slightly on the overall level of optimism.<\/p>\n","protected":false},"excerpt":{"rendered":"

Non-oil business activity grows in July after two months of contraction: A slight growth in output and new orders in July brought non-oil business activity back to expansion territory after two months of contraction,according to the Markit \/ Emirates NBD purchasing managers' index (PMI) gauge (pdf). July\u2019s PMI hit 50.3, rising from June\u2019s 49.2 reading. 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The latest purchasing managers\u2019 index fell to 48.2, down from 50.8 in April, signalling \"a moderate deterioration in the health of\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\/6\/1122.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566943,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/egypts-non-oil-business-activity-inches-up-in-december-remains-in-contraction-territory\/","url_meta":{"origin":595773,"position":1},"title":"Egypt\u2019s non-oil business activity inches up in December, remains in contraction territory","author":"enterpriseam admin","date":"8 January 2020","format":false,"excerpt":"Non-oil business activity improves slightly in December, but it\u2019s still in contraction territory: Egypt\u2019s non-oil private sector continued to contract in December, albeit at a slightly slower rate than November, which saw the lowest level of private sector business activity in two years, according to the Markit \/ Emirates NBD\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\/1\/535.jpg?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":595773,"position":2},"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":[]},{"id":643187,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/04\/non-oil-private-sector-activity-grows-after-three-years-in-contraction-2\/","url_meta":{"origin":595773,"position":3},"title":"Non-oil private sector activity grows after three years in contraction","author":"enterpriseam admin","date":"4 September 2024","format":false,"excerpt":"Our PMI left contraction territory for the first time since November 2020","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\/2024\/9\/218.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":589633,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/06\/the-pmi-was-in-contraction-territory-again-in-june\/","url_meta":{"origin":595773,"position":4},"title":"The PMI was in contraction territory again in June","author":"enterpriseam admin","date":"6 July 2023","format":false,"excerpt":"The PMI rose to 49.1 from 47.8 in May","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\/2023\/7\/129.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592772,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/06\/egypts-non-oil-business-activity-falls-slightly-in-october-but-sentiment-is-up\/","url_meta":{"origin":595773,"position":5},"title":"Egypt\u2019s non-oil business activity falls slightly in October, but sentiment is up","author":"enterpriseam admin","date":"6 November 2019","format":false,"excerpt":"Non-oil business activity falls slightly in October, but sentiment is showing strong improvement: Egypt\u2019s non-oil private sector remained in contraction territory in October, with output and new orders falling moderately, according to the Markit \/ Emirates NBD purchasing managers\u2019 index (PMI) (pdf). 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595773","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=595773"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595773\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595774"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595773"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595773"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}