The Economic Climate Indicator (ICE), which measures business confidence, registered “a slight decrease in May” compared to the previous month, the National Statistics Institute (INE) announced today.
The index dropped from 87.3 to 86.3 points, in a context in which economic fluctuations continue linked to the evolution of the covid-19 pandemic and restrictions associated with the respective prevention measures.
The change reflects an “unfavourable environment influenced by low demand and employment prospects, with greater emphasis on employment prospects that registered a substantial decrease, in the reference period,” INE writes.
In sectoral terms, the unfavourable assessment of the economic climate in May resided mainly in the “other non-financial services, trade, accommodation, catering and similar, and transport and storage” sectors.
“Together they supplanted the other sectors targeted by the survey, which recorded slightly favourable assessments, in the same reference month,” it adds.
The ICE is part of the Bulletin of Confidence and Economic Climate Indicators a monthly publication on the national conjuncture compiled on the basis of a survey also conducted every month by INE to companies in the non-financial sector.
“The study expresses the opinion of economic agents about the evolution and outlook for their activity, particularly about employment, demand, orders, prices, production, sales and limitations on activity,” the statistical authority explains.
Mozambique has been experiencing since June an acceleration in the number of covid-19 infections and deaths, entering a third wave that the government admits may exhaust the supply of oxygen and availability of beds in some provinces.
