Mozambico Pmi Composite

The Standard Bank Mozambique PMI fell to 50.3 in September 2024, down from 50.9 in August, marking the softest growth in the current expansion sequence. This slowdown was primarily attributed to a moderate increase in new orders and business activity amid weaker demand, constrained financial resources, and decreasing imports. Consequently, purchasing activity declined for the first time since April, resulting in a slight increase in backlogs, the second-fastest rise in over two years. Job creation also slowed, reflecting the weakest employment growth in five months. On prices, input cost inflation remained one of the strongest rates this year due to higher material prices and unfavorable exchange rates, pushing output charges to their fastest increase since June, though still much slower than the survey’s long-term trend. Finally, output expectations among Mozambican firms softened in September, reaching some of the weakest levels recorded since early 2023.