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Mozambique: Business Confidence Indicator retreats in May
8:27 CAT | 09 Jul 2021
File photo: Macauhub
The Mozambican Economic Climate Indicator (ICE), which measures business confidence, recorded “a slight decrease in May” compared to the previous month, the Mozambican National Institute of Statistics (INE) announced this Thursday (July 8).
The index dropped from 87.3 to 86.3 points, in a context in which economic fluctuations are still linked to the evolution of the Covid-19 pandemic and restrictions associated with the respective prevention measures.
The variation reflects an “unfavourable situation influenced by the low prospects for demand and employment, with greater emphasis on the employment prospects that registered a substantial decrease in the reference period,” the INE writes.
In sectoral terms, the unfavourable assessment of the economic climate in May was mainly in the sectors of “other non-financial services, commerce, accommodation, restaurants and similar, as well as transport and storage”.
“Together they surpassed the remaining sectors targeted by the survey, which registered slightly favourable appreciations in the same reference month,” the INE adds.
The ICE is part of the bulletin of Confidence and Economic Climate indicators, a monthly publication based on an INE survey of companies in the non-financial sector.
“The study expresses the opinion of economic agents about the evolution and perspective of their activity, particularly on employment, demand, orders, prices, production, sales and activity limitations,” Mozambique’s statistical authority explains.
Since June, Mozambique has been experiencing an acceleration in the number of infections and deaths caused by Covid-19, entering a third wave that the government admits may eventually deplete the supply of oxygen and availability of beds in some provinces.
Mozambique had by Wednesday reported a cumulative total of 934 Covid-19 deaths from among its 83,485 cases, with 86% accounted fully recovered.
Source: Lusa
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