The Mozambican private sector economy has continued to expand despite the countrys growth slowing down.
According to the latest PMI survey conducted by Standard Bank, private sector business conditions improved for five consecutive months as firms continued to receive greater intakes of new business. However, a much slower increase in business activity weighed on performance, leading to weaker job creation and a slight drop in input purchases.
The index rose in February this year, the highest growth since July 2023, before dropping again in March and then trending upwards once more.
In the latest PMI, the bank found that growth was supported in September by a moderate rise in new order volumes. Mozambican firms reported the introduction of new services, expanded capacities and new client wins driving sales.
The election this month October also encouraged clients to bring forward orders.
But, although higher levels of new work prompted an expansion in business activity in September, the rate of growth softened significantly from previous months.
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