There has been a slowdown of private consumption in Egypt at a rate of 4.1 percent annually during the first, second and third quarter of the fiscal year 2010-2011 after recording an increase of 4.44 percent in the first and second quarter of the fiscal year, according to a recent report by Business Monitor International. The Household sector will register a growth rate of real consumption of only about 2 percent during fiscal year 2011-2012, the report suggests, indicating that increases in public sector wages will support domestic demand in the next fiscal year. Due to high rates of inflation and the expectation of lower employment (particularly in the tourism sector), high uncertainty due to political transition and a bleak outlook in the banking sector, the consumer spending in Egypt is not likely to rise strongly this year, according to the report. The current political situation will contribute to the volatility in consumer consumption, as most citizens will hold off on major purchasing decisions until well into 2012, the report suggested.