5.24% Increase In Manufacturing, Extractive Industry Index For October 2024

(MENAFN- Daily News Egypt) The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported a 5.24% increase in the Manufacturing and Extractive Industries Production Index for October 2024. The index, which excludes crude oil and petroleum products, reached 112.32 in October, up from 106.73 in September 2024. This growth reflects a positive shift in industrial activity during the month.

CAPMAS also highlighted that it updated the index methodology using the base year 2012/2013, in accordance with the Industrial Activity Manual (ISIC Rev.4). The new methodology and monthly index (for producer prices based on 2012/2013) have been in use since January 2020.

The tobacco manufacturing sector experienced significant growth, with the production index for tobacco products rising by 7.95%, reaching 159.36 in October, compared to 147.63 in September. This increase is attributed to growing market demand.

The printing and reproduction of recorded media also saw an uptick, with the production index reaching 77.73 in October, up 6.96% from 72.67 in September, driven by market requirements.

However, not all sectors experienced positive growth. The textile manufacturing sector saw a decline of 8.21%, with the index dropping from 185.42 in September to 170.20 in October, reflecting a decrease in market demand. Similarly, the manufacture of leather and related products also faced a decline of 12.41%, with the index falling from 43.93 in September to 38.48 in October, again due to reduced market needs.

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