Released: 2 March 2021
February Sales Indexes Suggest Mongolian Economy Is Starting To Recover From Covid Shock
The Mongolian economy has been badly affected by Covid over the past 10 months. First by the impact of Covid on China, which caused significant disruption of supply lines due to China's very rapid and strongly enforced lockdown early in 2020.
Second, by the more recent sudden near complete Mongolian Government imposed lockdown in November, following the discovery of the first locally transmitted cases of Covid.
The Mongolian economy was clearly reviving from the dislocation caused by China, when it was badly hit a second time by the lockdown of the Mongolian economy (and of course the Mongolian winter). The disruption of economic activity in November and December continued into January, despite the easing of some aspects of the lockdown on the 10th of January.
However the easing of the lockdown did have a positive, albeit small impact. All of the Mongolian economic activity related indexes remained in the lower regions of the Index scale in January, all some way below the 50 “no growth" line, but every index moved in a positive direction.
In other words, the Mongolian economy remains badly affected by Covid, but January and February have brought some signs (particularly in the Business Confidence Index) of the first stages of partial recovery.
The key Staffing Index remains well below the 50 "no growth" level ,but has now recovered much of the ground lost during the harshest months and is expected to move into modest growth as winter recedes.
Mongolia: Business Confidence Index
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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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