Egypt Industrial production

Egypt

Egypt: Industrial production expands at healthy rate in December despite deceleration

February 16, 2015

In December, industrial production expanded 6.4% over the same month of the previous year, which was down from the 20.8% increase recorded in November. Even though this is the first result in five months below the 20.0% mark, December’s growth suggests that the economy continues to make significant progress in a new era of relative political stability. December’s expansion was driven by double-digit increases in the tourism and manufacturing sectors. In contrast, the oil and gas industries registered contractions.

On a sequential basis, industrial production fell 5.8% over the previous month, which contrasted the 10.2% increase registered in November. Annual average growth in industrial production rose from 8.5% in November to 10.3% in December, which marked an over six-year high.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.7% in 2015, which is unchanged from last month’s estimate. The panel expects industrial production to grow 3.6% in 2016.


Author:, Economist

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Egypt Industrial production Chart


Egypt Industry December 2014

Note: Year-on-year changes and annual average growth of industrial production index in %.
Source: Ministry of Planning and FocusEconomics calculations.


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