Egypt’s manufacturing index surges 2.6% in May

Egypt’s manufacturing and extractive industries’ index (without crude oil and petroleum products) rose 2.6 percent during May 2018, recording 125.97 points (primary results), compared to 122.78 points in April 2018 (Final results), according to the state static body.

The Central Agency for Public Mobilisation and Statistics (CAPMAS) said that the indices of manufacture of readymade garments, machinery and equipment, and pharmaceutical products recorded on a month-on-month basis an increase of 30.4 percent, 25 percent and 19.8 percent, respectively.

The report attributed this increase to the increased order of exports and the preparation of the feast season especially for the readymade garment.

The increase of air conditioners products was the result behind the rise of the manufacture of machinery and equipments. CAPMAS said that the manufacture of mining and other quarrying industries, and beverage slipped in May by 3.8 percent and 47.1 percent, respectively.

The report stated that the manufacture of mining and other quarry industries recorded 76.19 points, compared to 79.21 points in April, due to the stoppage of export movement during the summer.

The manufacture of beverage recorded 58.35 points in May 2018, compared to 110.33 points in April 2018 as a result of excess Inventory, CAPMAS said.

Source: Egypt Today