RABAT, Aug 10 – Most Moroccan manufacturers said business conditions remained normal in the second quarter of 2026, although rising production costs continued to put pressure on some companies, according to Bank Al-Maghrib.
The central bank’s quarterly business survey found that 71% of industrial companies considered the business climate normal, while 19% described it as unfavorable.
Conditions differed across sectors. In chemicals and para-chemicals, 88% of companies reported normal conditions. The figures were 63% for both textiles and leather and the food industry. In mechanical and metallurgical industries, 68% said conditions were normal, while 21% considered them favorable.
Supply conditions were also mostly stable, with 79% of companies describing them as normal and 19% reporting difficulties.
Employment changed little during the quarter. About 77% of industrial companies said their workforce stayed the same, while 17% reported a decline. However, businesses expect employment to fall in the third quarter, mainly in chemicals and para-chemicals and textiles and leather.
Production costs remained a concern. While 49% of companies said unit costs were unchanged, 37% reported increases. Food manufacturers recorded the highest share of companies reporting higher costs at 61%, followed by textiles and leather at 51%.
Meanwhile, companies generally reported stable cash flow. About 85% described their financial situation as normal, while 13% said it was difficult.
