Morning Brief november 3rd, 2022

ECONOMIC HEADLINES
| MOROCCO | VEHICLES | Sales down 7% at the end of October 2022
In October 2022, sales of new cars in Morocco amounted to 13,096 units, up 6.2% compared to October 2021. Meanwhile, cumula-tive sales since the beginning of the year recorded a decline of 6.9% to 134,001 units. In more detail, sales of passenger vehicles fell by 5.7% to 118,990 units and those of light commercial vehicles dropped by 15.6% to 15,011 units.

| MOROCCO | SURVEY | The capacity utilization rate up 5 pts in September 2022
The results of Bank Al-Maghrib's monthly business survey show a rise in production in September 2022, compared to the previ-ous month. In this context, the production capacity utilization rate stood at 74% up 5 pts compared to August 2022. Likewise, sales would have increased while orders would have stagnated during the same period with orders books lower than their normative level.

| BENIN | GDP | A growth rate of 6.3% in Q2 2022
According to the National Institute of Statistics and Demography (INStaD), Benin’s GDP shows a growth rate of 6.3% y-o-y in Q2 2022. This results from the growth observed at the level of the three sectors: primary (+6.1%), secondary (+8.0%) and tertiary (5.3%).

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