Egypt: Industrial production rebounds in July amid construction and tourism growth
September 18, 2015
In July, industrial production increased 6.0% over the same month last year, which contrasted the 12.4% decrease recorded in May. June’s result had marked the weakest in a year and a half but July’s figure was the strongest in seven months. The expansion in July was driven by substantial growth in the construction and tourism industries. In contrast, manufacturing and Suez Canal operations declined in annual terms in July.
On a sequential basis, industrial production increased 0.2% over the previous month, which contrasted the 4.1% decrease registered in June. However, annual average growth in industrial production slowed from 9.9% in June to 9.6% in July.
Author: Carl Kelly, Economist