ECONOMIC HEADLINES
| MOROCCO | GDP | The HCP forecasts a +0.5% increase in GDP in Q1 2021
According to the HCP, the national economy would have decreased by -5.5% in Q4 2020, taking into account a -4.9% drop in non-crop value added and -7.4% decline in that of crop activities. For Q1 2021, the HCP forecasts a growth rate of +0.5% given a +10.8% increase in crop value added and a decrease of -0.5% in non-crop activities.
| MOROCCO | CEMENT | Domestic consumption down 10% in 2020
In December 2020, cement sales declined by 0.8% to 1,180,238 tons against 1,189,135 tons in December 2019. In this context, do-mestic consumption during the year 2020 stood at 12,263,673 tons, down 10.0% compared to 2019.
| MOROCCO | SURVEY | Increase in production and sales in November 2020
The results of Bank Al-Maghrib's monthly business survey for November 2020 show an increase in production and sales com-pared to the previous month. However, the level of activity during the month of November remains lower than before the crisis. Finally, the production capacity utilization rate (TUC) would have reached 70% in November 2020.
| WAEMU | INFLATION | Prices up 2.5% y-o-y in November 2020
According to the Central Bank of West African States, the inflation rate in WAEMU member countries stood at 2.5% in November 2020. This results from the increase in the prices of the “Food products and non-alcoholic beverages” (+2.0%), “Restaurants and Hotels” (+0.2%), “Clothing” (+0.1%) and “Education” (+0.1%).
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