Egypt's economic activity not yet back to normal: official indicators

Marwa Hussein, Monday 1 Aug 2011

Faltering consumption and production of energy and building materials show the Egyptian economy is still a long way from recovery

Cement
Grey cement delivery decreased by 2.7 per cent in June compared to the same period last year while production grew 2.6 per cent.

Indicators of Egypt's industrial and economic activity show the country is still far below last year's levels but that June showed a partial improvement on the situation in May.

Figures for energy and construction material consumption published by the Information and Decision Support Centre (IDSC) of Egypt's cabinet are a useful guide to the country's economic prospects.
 
Grey cement delivery decreased by 2.7 per cent in June compared to the same period last year while production grew 2.6 per cent. Between May and June this year, production and delivery decreased by only 1 per cent. 
 
The rebar market reflected the annual slowdown of the construction sector but also showed recent gains.
 
Rebar production grew by 32 per cent in June compared to the month before, while sales increased by 4 per cent. Rebar production fell by just 2 per cent year-on-year but sales saw a 14.7 per cent fall, reaching 513,000 tonnes. Rebar prices climbed strongly by 37.1 per cent year-to-year reaching LE5,011 from LE3,656 in June. Month-on-month growth was 9 per cent.
 
Generated electricity increased by 2.5 per cent and consumption by 0.7 per cent in the year to June. 
 
Consumption of oil products, an important indicator for industrial activity, slid by 6.6 this June compared to the same period in 2010.
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