BAM survey: Industrial activity improved in November

Bank Al-Maghrib (BAM) reported an improvement in industrial activity for the month of November last year.

According to the results of the monthly business survey in industry for the month of November, production would have increased in all branches except agro-food where it would have stagnated and electrical and electronics where it would have retreated.

It also emerges from the survey based on data collected between December 1 to 30, 2022, that under these conditions, the Production Capacity Utilization Rate (TUC) would have stood at 75% after 74% the previous month.

As for sales, they would have recorded an increase both on the local and foreign markets, adds the Central Bank, noting that by branch of activity, they would have progressed in all branches with the exception of the chemistry and parachemistry where they would have stagnated and electrical and electronics where they would have withdrawn.

Orders, for their part, would have recorded an increase in all branches with the exception of chemicals and parachemicals, where they would have stagnated.

As for order books, they would have been at lower levels than normal in all branches of activity apart from the food industry, where they would have been at a normal level.

For the next three months, manufacturers expect an improvement in activity, notes the same source, noting however that 24% of companies express uncertainty about the future development of production and 28% regarding Sales.

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