Domestic Demand Down 1.7% in Fourth Quarter of 2022 – Statistics Office

Domestic demand contracted by 1.7% in the fourth quarter of 2022, following an 11.6% increase during the same period last year, according to Morocco’s Statistics Office (HCP).

This demand contributed negatively to economic growth by 1.9 points, instead of a positive contribution of 12.4 points, the HCP indicated in a briefing note on the national economic situation.

Thus, gross investment (GFCF, change in inventories and net acquisition of valuables) recorded a sharp fall of 9.6%, with a negative contribution to growth of 3.2 points instead of a positive contribution of 6.5 points during the same quarter of 2021, the same source adds.

For its part, household final consumption expenditure experienced a slowdown in its growth rate from 7.9% in the fourth quarter of 2021 to 0.8% in the fourth quarter of 2022, with a contribution to growth of 0.5 points.