Released: 2 October 2020
September Data Shows Mongolian Economy Continues to Recover from Recession
The Headline Sales Managers Index continued its slow upward progress in September.
The Headline Index is now way above the levels recorded in the all time low months of March and April, and approaching the 50 line, indicating renewed growth is likely to start in the fourth quarter of 2020.
The Market Growth Index has already arrived at the 50 mark, and reflects the real growth now evident in some, but not all, sectors of the economy.
The Job Index remained below the 50 "no growth" level in September, but the Index is now at an 8 month high, indicating employers are starting to recruit again, albeit not yet in the numbers seen a year ago.
Overall the Mongolian economy is back close to growth mode, but is experiencing something of a see-saw ride on its way back to more normal levels of activity.
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 start to 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
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