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Economic Climate Indicator falls in Mozambique for fifth consecutive month
12:50 CAT | 06 Nov 2018
Maputo, Independence Square. File photo: RFI
The Economic Climate Indicator (ICE) of Mozambican companies fell in September for the fifth consecutive month, according to the latest bulletin from the Mozambican National Statistics Institute (INE).
The index fell to 96.3, against 96.8 in August.
In quarterly terms, ICE “slowed” in the third quarter compared to the second, “which was in line with the employment prospect that has been falling for the second consecutive quarter,” the INE writes.
“Contrary to this, the demand perspective in the same period was favourable,” it adds, but not enough to avoid the aggregate decline in ICE.
The unfavourable economic situation in the third quarter was “due to the negative valuation of confidence in industrial production, other non-financial services and trade, while there was a positive assessment in the transport, construction and housing and catering sectors”.
The Confidence and Economic Climate indicators are a monthly publication on the economic situation in Mozambique, compiled on the basis of a monthly business survey of non-financial sector companies conducted by INE.
“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,” the INE explains.
Source: Lusa
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