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Mozambique: PMI business activity index drops slightly in June
3:01 CAT | 07 Jul 2022
File photo: Lusa
The Standard Bank Mozambique PMI business activity index fell to 52.0 in June 2022 from an 11-month peak of 52.4 in May, announced the Standard Bank, which conducts the survey.
Values above 50 points indicate that there is an improvement in the general conditions of companies to do business, but in Mozambique the scenario is one of “modest improvement”, the report reads.
The drop in the PMI was due to the slowdown in new orders, for the first time in three months.
There are signs that increasingly expensive prices “began to dampen client orders” in the economy as a whole, the bank notes.
On the positive side, Standard Bank notes that firms stepped up hiring activity and consequently “backlogs of work decreased the most since January”.
The Purchasing Managers’ Index (PMI) published by Standard Bank collates responses from purchasing directors at nearly 400 private sector companies.
Source: Lusa
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