Released: 2 September 2021
August Indicators Show Growth Rebound in Mongolia
The Mongolian economy has suffered greatly from Covid, with most recently an almost complete shutdown of many forms of business activity, rather later than suffered by most economies.
Happily the first signs of recovery are now evident, with Business Confidence usually a reliable bell weather of economic activity, bouncing back strongly in July from the very low level recorded in June.
All growth related Sales Managers Indexes increased into positive territory in August.
The Business Confidence Index rose to 53.9, a large 2.6 point increase to a 13 month high.
The Sales Growth Index rose from below the 50 "no growth" line, to a 13 month high reading of 54.7, indicating significant growth.
The Jobs Index rose to 21 month high crossing the 50 line in the process and indicating real growth in staffing levels for the first time since Covid struck.
This resurgence in business activity in Mongolia is clearly related to the 49 month high recorded by the China Sales Index in August.
Mongolia: Staffing Levels 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
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