{"id":647031,"date":"2024-10-07T00:00:00","date_gmt":"2024-10-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/07\/egypts-pmi-falls-back-into-contraction-territory-as-input-prices-soar\/"},"modified":"2024-10-07T00:00:00","modified_gmt":"2024-10-07T00:00:00","slug":"egypts-pmi-falls-back-into-contraction-territory-as-input-prices-soar","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/07\/egypts-pmi-falls-back-into-contraction-territory-as-input-prices-soar\/","title":{"rendered":"Egypt\u2019s PMI falls back into contraction territory as input prices soar"},"content":{"rendered":"

Business activity falls <\/strong>back into contraction territory after one month in the green:<\/strong> Egypt\u2019s non-oil private sector activity contracted in September, just one month after expanding for the first time in three years, S&P Global\u2019s most recent Egypt Purchasing Managers Index (PMI) (pdf)<\/a> report showed. The report pointed to price pressures dampening sales and slowing overall business activity, with output and new orders both declining \u201cat the sharpest rates since April.\u201d<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The September index reading came in at 48.8<\/strong>, below the 50.0 mark that separates growth from contraction and down from 50.4 in August<\/a>, which was the first time the country\u2019s non-oil private sector had witnessed growth since November 2020. Business activity is now at its lowest since April. <\/p>\n

Driving the fall was accelerating cost inflation<\/strong>, which ramped up to a six-month high thanks to \u201cincreased raw material costs and currency weakness.\u201d Rising price pressures helped depress demand as accelerating input cost inflation in 3Q 2024 was reflected in the output cost for consumers. This had a \u201cdampening effect on customer orders, leaving them to scale back business activity,\u201d S&P Global Market Intelligence Senior Economist David Owen noted<\/p>\n

The pace of decline in new business \u201caccelerated to the quickest in five months<\/strong>,\u201d with respondents reporting a drop in demand from the domestic market. But it wasn\u2019t all bad on the demand front, as new orders from outside the country \u201cstrengthened for a fifth straight month.\u201d<\/p>\n

It looks like the price pressures stunting demand aren\u2019t going anywhere anytime soon<\/strong>, with Owen noting that continued increases in output charges suggest that \u201cprice-related sales reductions may continue.\u201d<\/p>\n

On a positive note, firms were hiring more and buying stock<\/strong>, signaling that the private sector is hopeful that growth will return this quarter. Employment increased for the third month in a row and companies brought more stock than in the previous month.<\/p>\n

Business sentiment was down, but remained positive:<\/strong> Businesses are still confident about the 12-month period, but the level of confidence was down from August to its lowest in three months.<\/p>\n","protected":false},"excerpt":{"rendered":"

Higher cost inflation dampened sales and slowed business activity<\/p>\n","protected":false},"author":1,"featured_media":647032,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[104,72,185,1653],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-647031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam","tag-pmi","tag-sp","wpautop","entry"],"acf":{"mongo_id":"19e60e04-922b-4f69-ac6a-3002ab4f6a11","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/439.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s non-oil private sector activity falls back into contraction territory amid persistent inflation","related_issue":[647018],"teaser":"Higher cost inflation dampened sales and slowed business activity","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.a5a40e6f-858b-431c-ae7b-08b403cff6c1.mp3"},"yoast_head":"\nEgypt\u2019s PMI falls back into contraction territory as input prices soar - 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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":549909,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/pmi-is-flat-month-on-month-with-private-sector-still-in-contraction-territory\/","url_meta":{"origin":647031,"position":1},"title":"PMI is flat month on month, with private sector still in contraction territory","author":"enterpriseam admin","date":"5 October 2022","format":false,"excerpt":"Activity in Egypt\u2019s non-oil private sector contracted at the same pace in September as it did in August, according to S&P Global\u2019s latest purchasing managers\u2019 index (pdf). The PMI index was flat month-on-month at 47.6, remaining below the 50.0 threshold that separates growth from contraction for the twenty-second consecutive month.\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\/10\/136.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":647031,"position":2},"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":[]},{"id":598867,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/11\/egypts-non-oil-business-activity-falls-back-into-contraction-territory-in-may\/","url_meta":{"origin":647031,"position":3},"title":"Egypt\u2019s non-oil business activity falls back into contraction territory in May","author":"enterpriseam admin","date":"11 June 2019","format":false,"excerpt":"Non-oil business activity fell back into contraction territory in May: Non-oil business activity contracted in May after having expanded the previous month for the first time since August 2018. 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":542598,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/pmi-outlook-improves-but-remains-in-contraction-territory\/","url_meta":{"origin":647031,"position":4},"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":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":647031,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/647031","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=647031"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/647031\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/647018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/647032"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=647031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=647031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=647031"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=647031"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=647031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}