The Mozambican Economic Climate Indicator (ICE), which measures business confidence, recorded a “slight drop in the first quarter of 2021, after signs of recovery in the previous quarter,” the National Statistics Institute (INE) announced yesterday.
The balance of ICE in the first quarter of 2021 was fixed “below average”, reflecting the impact of covid-19 on the Mozambican economy.
The ICE stood at 86.7 points in the first quarter of 2021, compared to 86.9 in the first quarter of 2020 and an average value of 100.
“In sectoral terms, the unfavourable economic situation in the period under review was due to the negative appreciation of the indicator in the sectors of accommodation, restaurants and hospitality, transport and industrial production, thus supplanting the sectors of construction, commerce, as well as other non-financial services that registered a positive evaluation in the same period under analysis”, the report shows.
The ICE is part of the bulletin of indicators of the Confidence and Economic Climate, a monthly publication providing insight into the economic context of Mozambique, compiled through a survey also carried out every month by INE with 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”, explains the Mozambican statistical authority.