{"id":324557,"date":"2022-02-06T16:06:34","date_gmt":"2022-02-06T16:06:34","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324557"},"modified":"2022-02-06T16:06:34","modified_gmt":"2022-02-06T16:06:34","slug":"egypts-non-oil-economy-drops-in-9-month-low-in-january-ihs-markit","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/02\/06\/egypts-non-oil-economy-drops-in-9-month-low-in-january-ihs-markit\/","title":{"rendered":"Egypt&#8217;s non-oil economy drops in 9-month low in January &#8211; IHS Markit"},"content":{"rendered":"<p>The IHS Markit Egypt Purchasing Managers\u2019 Index (PMI) decreased to 47.9 points in January 2022 from 49 in December, marking the lowest level seen in the country&#8217;s non-oil private sector economy since April 2021.<\/p>\n<div id=\"Outstream\"><\/div>\n<p>This reading was below the series average of 48.2 to reflect the sharp decline in business conditions across Egypt\u2019s non-oil economy amid lower client demands and inflationary pressures, according to a press release on Thursday.<\/p>\n<p>Meanwhile, the production levels retreated at the quickest pace in over a year and a half.<\/p>\n<p>Inflationary pressures in the non-oil sector remained strong at the beginning of 2022 with the continued increase in the prices of raw materials, components, and transport.<\/p>\n<p>In addition, the\u00a0employment levels decreased for the third month in a row, driven by\u00a0lower demands that led to stable backlogs and reduced workloads.<\/p>\n<p>The <strong>Economist at IHS Markit,\u00a0David Owen,<\/strong> said:<em> &#8220;The drop-off in sales volumes was the joint-quickest since June 2020, driven by marked contractions in the construction and wholesale &amp; retail sectors.&#8221;<\/em><\/p>\n<p>Owen added: <em>&#8220;More positively, firms remained largely confident that they would weather the current economic storm and see activity increase over the next 12 months. The degree of optimism picked up but remained lower than those seen through much of 2021.&#8221;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IHS Markit Egypt Purchasing Managers\u2019 Index (PMI) decreased to 47.9 points in January 2022 from 49 in December, marking the lowest level seen in the country&#8217;s non-oil private sector economy since April 2021.<\/p>\n","protected":false},"author":4,"featured_media":321372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,21],"tags":[],"class_list":["post-324557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Egypt&#039;s non-oil economy drops in 9-month low in January - IHS Markit - egy-africa<\/title>\n<meta name=\"description\" content=\"The IHS Markit Egypt Purchasing Managers\u2019 Index (PMI) decreased to 47.9 points in January 2022 from 49 in December, marking the lowest level seen in the country&#039;s non-oil private sector economy since April 2021.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/02\/06\/egypts-non-oil-economy-drops-in-9-month-low-in-january-ihs-markit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt&#039;s non-oil economy drops in 9-month low in January - 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