HomeEconomyIndustry: A wind of optimism is blowing in the sector

Industry: A wind of optimism is blowing in the sector

A wind of optimism is blowing in the sails of the industrial sector, with a palpable enthusiasm from the heads of industrial companies, confirming a gradual economic recovery.

Rarely, since the onset of the crisis and its effects on the national economy, has such optimism brought together business leaders from different branches of the industrial sector.

As evidenced by the latest figures from the High Commission for Planning (HCP), the bosses of companies operating in the manufacturing, extractive, energy and construction industries expect positive results in the third quarter of this year.

Thus, according to the results of business tendency surveys carried out among businesses, operators in the manufacturing industry expect an increase in their production in Q3-2021.

Industry in good looks

These expectations are attributable, on the one hand, to an increase in the activity of “Manufacture of other non-metallic mineral products” and of “Metallurgy” and, on the other hand, to a decrease in that of ” Chemical industry “and” Manufacture of electrical equipment, explains the HCP.

The same wave of optimism reigns among companies in the environmental industry which anticipate an increase in production, in particular in the activities of “Water collection, treatment and distribution” and a stability of the number of employees.

For their part, business leaders in the construction sector see the future under better auspices and expect an increase in activity. This development would result, on the one hand, from the expected increase in activity in the “building construction” and “Civil engineering” branches and, on the other hand, from the expected decrease in activity at the level of the branch of “Specialized construction work”.

The energy production expected for the 3rd quarter of 2021, for its part, would see an increase attributable to an increase in the production and distribution of electricity, gas, steam and air conditioning ”.

More cautious, companies in the extractive industry expect their production to remain stable, mainly due to stagnation in phosphate production.

A growing economic activity

Conventional indicators as well as high-frequency indicators show that national economic activity continues to strengthen, according to the Department of Studies and Financial Forecasts (DEPF), under the Ministry of the Economy, Finance and Reform of administration.

This development is the result of the resumption of activity in the agricultural sector as well as the continuation of the momentum initiated by non-agricultural activities. A dynamic which concerns, on the one hand, the construction and electrical energy sectors and that of the manufacturing industries as indicated by the strengthening of the industrial production index (+ 10.4% at the end of June against -10 , 4% a year ago).

It is also due to the extractive sector and to the telecommunications sector, which generally maintain their positive trend, as well as to the attenuation of the withdrawal of tourism and transport indicators, particularly air transport.

Overall, in addition to the revival of the dynamism of sectoral activities, the recovery in economic activity seems to be confirmed in 2021, thanks to the progress made in the field of vaccination, the activity stimulus measures initiated previously, the consolidation of growth among the Kingdom’s main trading partners; and the resurgence of global trade in goods and services.

The national economy should thus end the year 2021 with a GDP growth, in volume, between 5.5% and 5.8%. This overall development should almost close the production gap that appeared in 2020 and help gradually straighten out the main macroeconomic aggregates.




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