The Mozambican Economic Climate Indicator (ICE), which measures business confidence, registered a fall in the second quarter, closing June with 85.7 points - one point less than in May - announced the National Statistics Institute (INE).

The ECI thus registered a drop "for the second consecutive quarter", with a balance that remains "below the average" recorded since 2004 and that stands at 98.4 points.

"The continuously unfavorable environment was influenced by the low demand outlook that supplanted the slight increase in the employment outlook," INE describes.

Economic fluctuations continue to be linked to the evolution of the covid-19 pandemic and restrictions associated with related 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