The Mozambican Economic Climate Indicator (ECI) fell in July for the third consecutive month, the National Statistics Institute of Mozambique (INE) announced in a bulletin consulted today by Lusa.
“Business confidence in the economy, expressed by the economic climate indicator, remained negative for the third consecutive month,” the INE states in the publication.
According to the INE, “this unfavourable situation was due to the fall in employment expectations for the third consecutive month, a fact contrary to the high expectations of demand in the same reference period”.
On average, 28% of companies surveyed faced some obstacles in July, representing a reduction compared to the situation recorded in June (34%).
The Confidence and Economic Climate indicators are based on monthly INE surveys of the economic situation in the non-financial sector.
“The study expresses the opinion of economic agents on the evolution and perspective of their activity, particularly employment, demand, orders, prices, production, sales and activity limitations,” the body explains.
Source: Lusa
