Released: 2 November 2020
October Data Shows Mongolian Economy Continues to Recover Slowly from Covid
The Headline Sales Managers Index continued its slow upward progress in October. The Headline Index is now way above the levels recorded in the all-time low months of March and April, and is now approaching the 50 line, indicating renewed growth is likely to start late in the fourth quarter of 2020.
The Market Growth Index has now recorded two consecutive months over the 50 "no growth" line, and reflects the real, albeit still very limited growth now evident in some, but not all, sectors of the economy.
The Job Index remained below the level in October, but the Index is now at an 8 month high, indicating some 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 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 not too distant future.
Mongolia: Market Growth 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)
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- STAFFING LEVELS INDEX
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