Egypt: Industrial production slumps in April
June 21, 2015
In April, industrial production contracted 0.2% over the same month last year, which contrasted the 4.4% increase recorded in March. April’s decrease was driven by contractions in the transportation and manufacturing sectors as well as a fall in activity at the Suez Canal. In contrast, the construction and tourism sectors registered increases.
On a sequential basis, industrial production decreased 2.2% over the previous month, which followed the 2.6% decrease registered in March. However, annual average growth in industrial production increased from 12.7% in March to 12.9% in April, which marked an over-six-year high.
Author: Carl Kelly, Economist