Mauritius

December 18, 2012

Business Climate, Mahmood Cheeroo: "Companies are Generally Pessimistic"

MCCI Business Confidence Indicator on (BCI) lost 3.1% (2.7 points) between October and December of this year and stands at 85.4 points, the lowest level since the launch in June of this indicator 2010.

The decline in the index follows a more substantial decline in the third quarter, with almost all the variables used in the estimation of this indicator negative, ie, the level of firm orders, entrepreneurs' expectations about the future of business, hiring prospects. Only the variable inventory management was favorable.

This result, according to the MCCI is quite worrying because this period of year-end is usually marked by some dynamism of economic activity due to the holiday season as was the case in 2010 and 2011. This shows, according to the MCCI, the response capacity of our economy are being affected and it is urgent to revise certain elements of supporting companies face the ongoing crisis.

23% of companies surveyed say they have seen a deterioration of their economic and financial situations while 21% claim to have seen an improvement. More than a quarter of these firms provide a deterioration in business during the first quarter of 2013 and approximately 61% do not expect any deterioration or improvement.

According to the MCCI, this apprehension is reflected in the hiring prospects in the short and medium term. The balance of opinion entrepreneurs is negative, implying the possibility of redundancies. 85% of entrepreneurs consulted indicate that they do not intend to hire in the coming months. This, with an impact on the unemployment rate in 2013. As explained Cheeroo Mahmood, General Secretary of the MCCI, there is no rebound in the economy and the situation still 'feel good' to encourage hiring and investment. Businesses, except the services sector remain generally pessimistic.

In that it is the sectoral analysis, the trade sector shows that confidence is lowest with a second consecutive decline in the indicator, a decrease of 8.1%. Same for the manufacturing sector, where a decrease of 3.5% is found. The service sector, for its part, recorded a 1.8% increase after five consecutive quarters of decline.

Mixed signals with some positive elements in the service sector. "But, he says, there is no change in that it is the job. Moral and businesses to grow toward an opening is affected. "The big challenge for the Mauritian economy in 2013, according Mahmood Cheeroo will find how to get to lead a majority of firms in a dynamic growth. Regarding the pricing policy, 80% of the panel maintained their selling price or service delivery during this quarter and continue in this way. This to ensure a certain level of activity and market share, even lower margins.

 

 

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