18.8 C
Tuesday, May 21, 2024

Statistics Authority Foresees Increase in Manufacturing Companies’ Production in Q1-2023

Manufacturing companies expect an increase in production in the first quarter of 2023, says the High Commission for Planning (HCP) in a briefing note on the results of business surveys among various companies.

These expectations would be due, on the one hand, to an increase in the activity of the food industry, metallurgy and manufacture of electrical equipment and, on the other hand, to a decrease in that of the chemical industry and manufacture of machinery and equipment, explains Morocco’s statistics authority.

Regarding employment expectations, manufacturers expect overall stability in the number of employees, according to the same source.

Regarding the extractive industry, companies in this sector expect an increase in production for Q1-2023. This development would be mainly due to an increase in the production of phosphates. In terms of the number of employees, employers in the sector expect a decrease in the number of workers.

The energy production expected for the 1st quarter of 2023, would know, as for it, a decrease attributable to the decline of the “Production and distribution of electricity, gas, steam and air conditioning”. As for the employment, it would experience a decrease in the number of employees.

For the same quarter, the companies of the environmental industry expect a stable production, especially in the activities of “collection, treatment and distribution of water”, and a stable number of employees.

At the same time, the HCP indicates that in Q4-2022 the production of the manufacturing industry would have increased, as a result of an increase in the production in Automotive industry, manufacture of electrical equipment and mnufacture of other non-metallic mineral products, and a decrease in the production in manufacture of beverages, furniture and textiles.

The sector’s order books are considered to be at a normal level and sales prices of manufactured products are reported to have increased in the fourth quarter. Employment was said to have remained stable.

Overall, the rate of capacity utilization (TUC) in the manufacturing industry would be established at 76%. The HCP also reported that 45% of manufacturing firms had experienced difficulties in obtaining raw materials in the fourth quarter, mainly those of foreign origin.

Inventories of raw materials would have been at normal levels during this quarter, and cash flow would have been considered “difficult” by 35% of employers. By industry, this proportion reaches almost 47% in the manufacture of textiles.

Production in mining and quarrying fell in the fourth quarter of 2022, following a decline in phosphate production. Order books would have been at a normal level and employment would have declined.

- Advertisement -spot_img

More articles


Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article

%d bloggers like this: