The Economic Climate Indicator (ECI), which measures business confidence, fell again in the third quarter, with an average score of 81.3 points - down 3.1 points from the previous quarter - announced this Thursday an official source.

According to data from the National Institute of Statistics (INE), the ECI "extended the downward trend it has been recording since the first quarter of 2021, a fact that was mainly due to the unfavorable assessment of the employment outlook."

There was also a drop in future demand in the same quarter.

Even with this scenario, the profile of the ECI "is slightly above that of the same quarter of 2020," notes INE.

Although not referring to the pandemic, the bulletin concerns a period when the Mozambican economy is still facing constraints due to covid-19 prevention measures.

The ICE is part of the Confidence and Economic Climate Indicators Bulletin, a monthly publication on Mozambique's economic situation compiled on the basis of a survey also conducted every month by the INE to companies in the non-financial sector.

"The survey expresses the opinion of economic agents about the development and outlook of their activity, particularly on employment, demand, orders, prices, production, sales and activity limitations," the statistical authority explains.

Lusa Agency