Mozambique’s Economic Climate Indicator (ECI) fell in March, reflecting the first impacts of the Covid-19 pandemic in the country, figures released today by the Mozambican National Statistics Institute (INE) reveal.
The monthly index fell from 98.2 to 95.5, with the negative trend due to “the degradation of confidence in all surveyed sectors of activity”, especially accommodation, restaurants and transport, “which saw their confidence levels drop by 22 and 9.2 percentage points, respectively, compared to February”, the INE bulletin detailed.
The employment expectations indicator registered the largest fall, from 92.9 to 82.6 points, its lowest historical value since January 2004. This, the INE noted, continued a downward trend “for the third consecutive quarter”.
The Confidence and Economic Climate Index is a monthly publication on the economic situation in Mozambique, compiled based on an economic survey carried out every month by INE in companies of the non-financial sector.
“The study expresses the opinion of economic agents about the evolution and outlook of their activity, particularly on employment, demand, orders, prices, production, sales and activity limitations,” the INE declares.
Mozambique so far records an accumulated total of 80 cases of Covid-19, with no record of deaths and 19 patients deemed fully recovered.
Source: Lusa via Club of Mozambique