Mozambique Pmi Composite

The Standard Bank Mozambique PMI fell to 48.4 in November 2024 from 50.2 in October, indicating the first contraction in seven months. This decline was driven by reduced capacity and weaker demand due to protests and strikes following the general election. New business volumes fell across all sectors, ending a nine-month growth streak. Employment dropped at the fastest rate since March 2021 as companies sought to control costs, and purchasing activity declined sharply, leading to reduced inventories. Supply chains faced significant disruptions, with delivery times at their longest on record, partly due to border closures with South Africa. On prices, input costs fell for the first time in a year, driven by lower supplier charges and reduced staff costs, prompting selling prices to rise slightly. Finally, business confidence weakened to a four-year low amid concerns over prolonged political tensions, fiscal pressures, and foreign exchange imbalances.