Egypt Industrial production

Egypt

Egypt: Industrial production tumbles at start of year

March 24, 2015

In January, industrial production contracted 5.3% over the same month of last year, which contrasted the 7.0% increase recorded in December. The result was the weakest since March of last year. Industrial production expanded at an average rate above 20.0% during the second half of 2014 amid a new era of relative political stability. However, January’s print suggests that the economy has cooled after a period of catching up. January’s decline was mainly driven by double-digit contractions in the tourism and construction sectors.

On a sequential basis, industrial production increased 9.9% over the previous month, which contrasted the 5.3% decrease registered in December. Annual average growth in industrial production ticked up from 10.4% in December to 10.5% in January, 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 January 2015

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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