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Investing.com -- Mozambique’s private sector showed improved business conditions in November, with the headline Purchasing Managers’ Index (PMI) rising to 50.8 from 50.4 in October, marking its highest level in nine months.
New business increased at the strongest rate in almost one-and-a-half years, with all five monitored sectors experiencing growth. Panelists attributed this to rising customer demand and successful new products.
Business output expanded at the fastest pace since July, while employment saw the strongest growth since July 2024. The job creation was broad-based across all monitored sectors.
Despite these positive indicators, companies continued to reduce their inventories for the seventh consecutive month, even as purchasing activity increased. Supplier delivery times improved to the greatest extent since February 2024.
Input costs rose at the fastest rate in nine months, driven by higher prices for purchased items and increased wage costs. This led to a mild uptick in average selling prices, though inflation remained slower than the survey’s long-term trend.
Business outlook deteriorated slightly in November, marking the third consecutive monthly decline in confidence. While firms remained generally positive about activity in the coming year, optimism fell to its lowest level in 2025.
Fáusio Mussá, Chief Economist for Mozambique at Standard Bank, noted that most PMI sub-indices were at or above 50, indicating month-on-month growth. He highlighted that Mozambique’s economy had negative GDP growth in the first three quarters of 2025, averaging -1.9%.
Mussá predicted GDP growth would turn positive in the last quarter of 2025, supported by favorable base effects, but warned of potential negative growth from the second quarter of 2026 if aluminum smelter Mozal shuts down due to unfavorable electricity tariffs.
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