The IEDOM takes stock of the Mahorean economy in the 3rd quarter of 2024 marked by a slight recovery, mainly due to construction and market services. Fragile progress due to an uncertain context linked to the crises experienced by the island, particularly at the start of the year. Same trend on the consumption side despite a slowdown in inflation.
The IEDOM, the Issuing Institute of Overseas Departments, notes an increase in the business climate indicator. A progression that is certainly less than +1.8 points compared to the 9.8 points in the first quarter of this year but which still remains on a positive note with increasing or stable activity in a large majority of companies. The construction industry is in particularly good shape, with full order books and shorter payment terms. Same improvement also on the side of commercial services with an increase in activity. The only downside is a degraded cash flow which pushes companies to part ways with some of their employees.
Commercial activity is experiencing a difficult situation which is forcing it to review its workforce.
In terms of household consumption, things are starting to rise again, especially for current products, imports of which are increasing by almost 14%, while capital goods are down by 11%.
On the other hand, consumer prices are stable compared to the second quarter, and over the year inflation is approaching 2% after an increase of 3% in June.
For this 3rd quarter, also note the increase in job seekers + 1.8% after a year of decline.
For the last quarter of 2024, overall, the trend is rather optimistic but with cash levels still deteriorating.
