Morocco’s central bank reports improvement in industrial activity, yet “textiles and leather” sector remains stagnant
In its monthly industrial survey for July, Bank Al-Maghrib noted a significant improvement in industrial activity across various sectors, except for the “textiles and leather” sector, which maintained a stable condition without experiencing growth in sales.
The bank indicated that production and sales witnessed a general rise, contributing to a capacity utilization rate of 79%, a slight increase compared to June.
Regarding demand, a total increase was observed, reflecting growth in the “food industries” and “mechanics and metals” sectors, contrasted by stagnation in “chemicals and semi-chemicals,” and a decline in “textiles and leather.”
Order books generally stabilized at levels below normal, except for the “food industries,” which recorded above-average levels. Meanwhile, “mechanics and metals” remained within their normal range, and demand levels continued to be below usual in the “textiles and leather” and “chemicals and semi-chemicals” sectors.
Looking ahead to the next three months, industrial companies expressed expectations of further improvement in production and sales across various industrial branches, except for the “textiles and leather” sector, which is anticipated to remain in a state of stagnation.
