2023-08-08 11:00:02
According to the results of the quarterly edition of the business tendency survey relating to the second quarter of the year, production conditions were characterized by a supply of raw materials considered normal by the majority of manufacturers.
The general business climate in the industry would have been normal in the second quarter of 2023. A confirmation made by 72% of the companies having taken part in the Bank Al-Maghrib business survey. At the same time, another 20% qualified it as unfavourable. “These proportions are respectively 79 and 18% in the food industry, 78 and 13% in textiles and leather, 61 and 32% in chemicals and para-chemicals”, can be noted from the publication of the Central Bank. And to specify that “on the other hand, 40% of mechanical and metallurgical industrialists would have qualified the business climate as favorable and 40% as normal at a time when all industrialists declare a normal business climate in the electrical and electronic”.
Regarding supply conditions, in the second quarter of the year they would have been “normal” according to 86% of manufacturers and “difficult” according to 14% of them. Referring to the Bank Al-Maghrib survey, its proportions reach 79 and 21% in “agro-food” and 73 and 27% in “mechanics and metallurgy”. In the other branches, the majority of companies qualify the supply conditions as “normal”. As for the number of employees employed, they would have stagnated during the last three months, in all branches with the exception of “mechanics and metallurgy” where they would have rather fallen. For the next three months, manufacturers anticipate stagnation in the number of employees employed. By branch, they forecast an increase in the workforce in “electrical and electronics” and in “mechanics and metallurgy”, stagnation in “agrifood” and in “textiles and leather” and a drop in ” chemistry and parachemistry”.
It should be noted that unit production costs would have increased, in Q2 2023, in all branches of activity except “electrical and electronics” where they would have rather stagnated. With regard to the cash position, it would have been qualified as “normal” by 61% of the companies in the second quarter while 38% of them qualified it as “difficult”. This last proportion is 12% in “textiles and leather”, 15% in “agri-food”, 54% in “chemistry and parachemistry” and 61% in “mechanics and metallurgy”. On the other hand, manufacturers of “electrical and electronics” consider their cash position to be “normal”.
Moreover, access to bank financing would have been described as “normal” in all branches with the exception of “textile and leather” and “agro-food” where respectively 23 and 13% of companies qualify it as “difficult”. Asked about the cost of credit, 70% of companies report stagnation while the remaining 30% have attested to an increase. According to Bank Al-Maghrib, the share indicating the increase in the cost of credit in the second quarter comes to 30% in “agrifood”, 60% in “electrical and electronics” and 68% in ” mechanics and metallurgy”.
On the other hand, the majority of “chemical and parachemical” and “textile and leather” manufacturers indicate stagnation in the cost of credit compared to the first quarter of 2023. At the same time, investment expenditure seems to have stagnated, by one quarter to another, according to 60% of manufacturers and increased according to 30% of them. These shares reach respectively 65 and 28% in “agro-food”, 62 and 25% in “textiles and leather”, 55 and 30% in “chemicals and parachemicals” and 53 and 44% in “mechanical and metallurgy”. On the other hand, 81% of companies in the “electrical and electronics” sector indicate a stagnation in investment expenditure and 19% a decline. For the next quarter, 49% of manufacturers anticipate a stagnation in investment spending while 41% others expect an increase.
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