Egypt: Industrial production slides again in May
July 21, 2015
In May, industrial production contracted 0.5% over the same month last year, which followed the 1.7% decrease recorded in April. May’s decrease was driven by contractions in the transportation, manufacturing and oil production sectors. In contrast, the construction and tourism sectors registered increases.
On a sequential basis, industrial production increased 6.3% over the previous month, which contrasted the 3.7% decrease registered in April. However, annual average growth in industrial production decreased from 12.8% in April to 12.2% in May.
Author: Carl Kelly, Economist