{"id":454,"date":"2022-12-05T11:59:42","date_gmt":"2022-12-05T10:59:42","guid":{"rendered":"http:\/\/lequotidien-deconstantine.dz\/?p=454"},"modified":"2022-12-05T11:59:44","modified_gmt":"2022-12-05T10:59:44","slug":"egypt-private-sector-shrinks-in-november-after-devaluation","status":"publish","type":"post","link":"https:\/\/lequotidien-deconstantine.dz\/?p=454","title":{"rendered":"<strong>Egypt private sector shrinks in November after devaluation<\/strong>"},"content":{"rendered":"\n<p>Egypt&rsquo;s non-oil private sector shrank in November at its sharpest rate since the outbreak of the coronavirus pandemic in early 2020, with a weaker currency weighing on the cost and the availability of foreign goods, a survey showed on Monday.<\/p>\n\n\n\n<p>The S&amp;P Global Egypt Purchasing Managers&rsquo; Index (PMI) slid to 45.4 in November from 47.7 in October, well below the 50.0 threshold that separates growth from contraction.<\/p>\n\n\n\n<p>It was the second lowest reading since the pandemic dragged the index down in June, 2020, and the 24th consecutive month of contraction.<\/p>\n\n\n\n<p>\u00ab\u00a0Central to the downturn was a rapid decrease in business activity, as survey panellists reported that accelerated cost rises and falling new orders forced them to cut output,\u00a0\u00bb S&amp;P Global said.<\/p>\n\n\n\n<p>Egypt has been suffering a severe shortage of foreign currency despite a 14.5% devaluation on Oct. 27 and the announcement of a $3 billion support package with the International Monetary Fund. The lack of dollars has tightened the flow of imports for factory and retail inputs.<\/p>\n\n\n\n<p>\u00ab\u00a0The pound&rsquo;s depreciation against the US dollar led to a marked increase in prices paid for raw materials, which have already been exacerbated by import restrictions since early-2022,\u00a0\u00bb said S&amp;P Global economist David Owen.<\/p>\n\n\n\n<p>The PMI&rsquo;s sub-indices for both overall input prices and purchase prices deteriorated to 72.4, their highest since July 2018, from October&rsquo;s 63.5.<\/p>\n\n\n\n<p>The sub-index for future output expectations improved to 55.7 after falling to a record low of 52.2 in October.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt&rsquo;s non-oil private sector shrank in November at its sharpest rate since the outbreak of the coronavirus pandemic in early 2020, with a weaker currency weighing on the cost and the availability of foreign goods, a survey showed on Monday. The S&amp;P Global Egypt Purchasing Managers&rsquo; Index (PMI) slid to 45.4 in November from 47.7 [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":{"0":"post-454","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economie"},"_links":{"self":[{"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=\/wp\/v2\/posts\/454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=454"}],"version-history":[{"count":1,"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=\/wp\/v2\/posts\/454\/revisions"}],"predecessor-version":[{"id":456,"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=\/wp\/v2\/posts\/454\/revisions\/456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=\/wp\/v2\/media\/455"}],"wp:attachment":[{"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lequotidien-deconstantine.dz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}