"Normal" according to 58% of companies

The general business climate in the industry would have been “normal” according to 58% of companies and “unfavourable” according to 34% of them for the second quarter of the year (Q2-2022), indicates Bank Al-Maghrib (BAM).

The proportion of dissatisfied companies varies from 23% in “agri-food” to almost half in “textiles and leather” and “mechanics and metallurgy”, specifies BAM in its results for the quarterly edition of the business survey.

As for supply conditions, in Q2-2022 they would have been “difficult” according to 54% of manufacturers and “normal” according to 42% of them, adds the report, specifying that the stock of raw materials and semi-finished products would have been at a normal level in all branches of activity.

By branch of activity, 84% of companies would have indicated “difficult” supply conditions in “electrical and electronics” and in “mechanical and metallurgy”, 45% in “chemicals and parachemicals”, 43% in “agro-food” and 28% in “textiles and leather”.

In addition, the workforce employed during the last three months would have stagnated compared to Q1-2022, particularly in “agri-food”. On the other hand, 57% of “mechanical and metallurgy” manufacturers indicate a drop in the workforce and 43% a stagnation. In “electrical and electronics”, 65% of companies report an increase and 26% stagnation. These proportions are respectively 47% and 48% in “textiles and leather” and 20% and 80% in “chemicals and parachemicals”, says the report.

The same source notes that unit production costs would have increased according to 66% of manufacturers and stagnated according to 34% of them for Q2-2022. The cash position, meanwhile, would have been deemed “normal” by 55% of companies and “difficult” by 25% of them.

At the same time, access to bank financing would have been described as “normal” by 82% of companies and “easy” by 11% of them over the same period, while investment expenditure would have stagnated, by one quarter to another, according to 69% of the industrialists and increased according to 19%.

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