Mozambican Economic Climate Indicator begins year in decline – INE

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Mozambican Economic Climate Indicator begins year in decline – INE

7:13 CAT | 17 Mar 2021

File photo: Lusa

Mozambique’s business confidence index, the Economic Climate Indicator (ICE) began 2021 in decline, the National Statistics Institute (INE) announced in a bulletin on Monday. The monthly figure fell from 90.5 points in December 2020 to 89.4 in January, below the historical 98.6 average (since 2004).

“In sectoral terms, the unfavourable assessment of the economic climate in January was due to the poor progress in the economic activities of industrial production, transport, accommodation, catering and the like,” the INE explains.

The unfavourable assessment “supplanted the positive assessments recorded in the areas of other non-financial services and construction services, in an environment where the trade sector remained unchanged”.

Disaggregating the figures, the demand outlook “registered a slight fall in the month of January, a fact that was an interruption of a six-month upward trend”, while the employment outlook “declined slightly again for the second consecutive month”. The valuation of future prices “declined slightly, after a long upward profile”.

The ICE is part of the Confidence and Economic Climate indicators bulletin, a monthly publication on the situation in Mozambique based on INE surveys 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.

Source: Lusa