Egypt: Industrial production rebounds in February
April 3, 2015
In February, industrial production expanded 4.9% over the same month last year, which contrasted the 5.3% decrease recorded in January. The result marked the first pick up in industrial production after five straight months of deceleration. February’s increase was driven by double-digit growth in manufacturing, oil production, and the Suez Canal. In contrast, tourism and construction contracted.
On a sequential basis, industrial production increased 1.0% over the previous month, which was well below the 9.9% increase registered in January. Annual average growth in industrial production increased from 10.5% in January to 11.7% in February, which marked an over-six-year high.
Author: Carl Kelly, Economist