Mozambique: Economic Climate Indicator reverses negative trend

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Mozambique: Economic Climate Indicator reverses negative trend

4:54 CAT | 11 Jan 2022

File photo: Lusa

Mozambique’s Economic Climate Indicator (ICE) rose to 81.6 in the last quarter of 2021, reversing the negative trend recorded since 2020, the Mozambican National Institute of Statistics (INE) announced on Monday.

“The economic climate indicator reversed the negative trend it had been registering” by “slightly” increasing, the INE publication reads.

The index thus recovers from a low of 80.9 in the third quarter of 2020.

Despite the recovery, “the respective balance remains below the average of the respective time series” of the last 17 years.

The “slightly favourable economic environment was due to the favourable prospects for demand and short-term employment, thus giving signs of recovery in the economic environment”, the INE adds.

Although it does not refer to the pandemic, the bulletin concerns a period in which the Mozambican economy still faces restrictions due to Covid-19 prevention measures.

The country had, by Monday, reported an accumulated total of 2,096 Covid deaths among 210,991 registered cases, of which 80% had recovered and 232 were still hospitalized.

The ICE is part of the Confidence and Economic Climate Indicators bulletin, a monthly publication on the business environment in Mozambique, compiled on the basis of a monthly 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,” the Mozambican statistical authority explains.

Source: Lusa