FX.co ★ Morocco Factory Activity Downturn Deepens in Q2

Morocco’s manufacturing output contracted by 4.5% year-on-year in the second quarter of 2026, the sharpest fall since June 2020, following a 1.4% decline in the previous quarter. The downturn was primarily driven by a 29.5% collapse in chemical production, a 19.5% drop in computer and electronic products, and a 10% decrease in clothing output. By contrast, metal-product manufacturing expanded by 14.1%, while metallurgy, automotive, and food industries recorded gains of 11.6%, 6%, and 5.7%, respectively. Outside the manufacturing sector, extractive industries tumbled 28.8%, whereas electricity generation inched up by 1.9%.