Gulf Oil and Gas accountACCOUNT

Africa Economy in March 2014

Source: OPEC 4/10/2014, Location: Africa

Share |
The economy of Egypt has seen a modest return to growth in both of production and new orders last month following a deceleration in January. On the other hand, employment in the country’s non-oil producing private sector continued to contract. The HSBC headline PMI stood just at the neutral mark of 50 in February, after posting 48.7 in January. This reflects generally unchanged operating conditions in the economy from the previous month. The latest two readings of the index suggest that the notable improvement at the end of 2013 was mainly due to the low-base effect. More robust momentum is needed in the fundamentals of the economy for there to be a sustained expansion in the PMI. The unemployment rate in Egypt closed out 2013 at 13.4%, unchanged from the previous quarter but up from 13.0% at the end of 2012, as the economy weakened on the back of political uncertainty.

The CPI in Kenya fell from 7.2% y-o-y in January to 6.9% y-o-y in February, according to the Kenya National Bureau of Statistics (KNBS). On a month-on-month basis, the CPI increased by 0.4% compared to 0.5% and 1.1% in December and January, respectively.

In Tunisia, the CPI dropped to a 5.8% annual rate in January, while the producer price inflation edged up to 2.2% y-o-y in December on higher food processing prices.

In South Africa, 4Q13 GDP growth rebounded from the strike-beleaguered 2Q and 3Q of the year. According to Statistics SA, real seasonally adjusted GDP rebounded to an annualised 3.8% in the 4Q13, compared to growth of 0.5% in the 3Q13. Even so, the economy has shown a declining rate of GDP growth in 2013 for the second consecutive year. The economy grew at a rate of 1.9% last year, following 2.5% and 3.6% in 2012 and 2011, respectively. The country’s PMI of February highlighted a rise in activity as a result of the quickest pace of acceleration in new orders in more than a year. The survey showed, however, that input and output price inflations were at record highs. The PMI index rose to 51.5 last month, up from 50.3 in January.

Economics/Financial Analysis News in Egypt >>

Egypt >>  2/19/2018 - Noble Energy, Inc. has signed agreements to sell significant quantities of natural gas from the Leviathan and Tamar fields to Dolphinus Holdings Limit...
Egypt >>  2/14/2018 - C-Kore Systems closed off an excellent 2017 with an installation/commissioning campaign for the Egyptian Atoll project in collaboration with Subsea 7’...

Egypt >>  2/12/2018 - BP announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East N...
Egypt >>  2/2/2018 - Petroleum Minister Tareq el Molla discussed in a meeting with CEO of Kuwait Petroleum Corporation (KPC) Nizar Mohammad Al Adsani ways of boosting bila...

Egypt >>  1/29/2018 - Yokogawa Electric Corporation announces that its subsidiary, Yokogawa Middle East & Africa B.S.C.(c), has received an order from the state-owned Egypt...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

More News


Oil & Gas Companies in Egypt >>

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.