Released: 1 September 2020
August Data Shows Mongolian Economy Continues to Recover from Covid
The Headline Sales Managers Index slowed down in August from the rapid recovery exhibited in July. But it remains way above levels recorded in the all-time low months of March and April. It should also be noted that the lower figure after the very high numbers of July indicate a slight reversal in trend compared with the previous month but not necessarily renewed recessionary conditions.
Business Confidence dipped, again after the very high numbers recorded in July, but again, this does not indicate renewed descent into recession, but a slight setback after the very good numbers in the previous month.
The Job Index remained below the 50 "no growth" level in August, but responses indicate it is likely to regain the levels of one year ago in September.
Overall the Mongolian economy is back close to growth mode, but is experiencing something of a see-saw ride on its way to more normal levels than those induced by the Covid epidemic. The economy suffered very badly from the abrupt closure of vast areas of the Chinese economy earlier in the year. But many business sectors are now seeing a revival in activity levels, and it is likely that Gross Domestic. Product will increase in real terms in the fourth quarter.
Mongolia: Staffing Levels Index
The Staffing Levels Index monitors the level of growth or decline in employment against the same period a year earlier.
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- HEADLINE SALES MANAGERS’ INDEX (SMI)
- BUSINESS CONFIDENCE INDEX
- MARKET GROWTH INDEX
- SALES GROWTH INDEX
- PRICES CHARGED INDEX
- STAFFING LEVELS INDEX
- CURRENCY STRENGTH INDEX
- PROFIT MARGINS INDEX
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