The Standard Bank Mozambique PMI rose to 46.5 in September 2020 from 46.1 in the previous month. The reading pointed to the seventh straight month of contraction in private activity, but the smallest since March, amid the gradual lifting of social and economic restrictions. Output contraction eased, as businesses reduced activity in line with weaker sales volumes, while new orders fell at the softest pace in this period and employment increased for first time since March. At the same time, delivery times improved, while backlogs declined at the slowest rate in the current six-month run of depletion. On the price front, input costs dropped for the sixth consecutive month, amid weaker demand for inputs and further cuts to wages. Meanwhile, output charges rose for the third straight month, due to a deterioration in exchange rates. Finally, sentiment deteriorated to a near four-year low, amid concerns over the long-run impact of the pandemic.

Composite Pmi in Mozambique is expected to be 46.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Mozambique to stand at 50.20 in 12 months time. In the long-term, the Mozambique Standard Bank PMI is projected to trend around 51.00 points in 2021 and 53.00 points in 2022, according to our econometric models.

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Mozambique Standard Bank PMI

Actual Previous Highest Lowest Dates Unit Frequency
46.60 46.10 52.80 37.10 2019 - 2020 points Monthly
SA


News Stream
Mozambique Private Sector Shrinks the Least in 6 Months
The Standard Bank Mozambique PMI rose to 46.5 in September 2020 from 46.1 in the previous month. The reading pointed to the seventh straight month of contraction in private activity, but the smallest since March, amid the gradual lifting of social and economic restrictions. Output contraction eased, as businesses reduced activity in line with weaker sales volumes, while new orders fell at the softest pace in this period and employment increased for first time since March. At the same time, delivery times improved, while backlogs declined at the slowest rate in the current six-month run of depletion. On the price front, input costs dropped for the sixth consecutive month, amid weaker demand for inputs and further cuts to wages. Meanwhile, output charges rose for the third straight month, due to a deterioration in exchange rates. Finally, sentiment deteriorated to a near four-year low, amid concerns over the long-run impact of the pandemic.
2020-10-06
Mozambique Private Sector Contracts for 6th Month
The Standard Bank Mozambique PMI inched down to 46.1 in August 2020 from 46.2 in the previous month. The reading pointed to the sixth straight month of contraction in private activity, amid measure restrictions to curb the spread of COVID-19. Output contracted at the slowest since March and new orders continued to drop, while employment declined at the softest pace in four months, while delivery times moved closer to stabilisation. Meanwhile, backlogs fell at the slowest rate in the current five-month run of depletion. On the price front, input costs dropped for the fifth consecutive month. Meanwhile, output charges rose for the second straight month, albeit only slightly. Finally, sentiment deteriorated amid the outlook for the Mozambican economy weakened to a four-month low in August while many firms were hopeful of an uplift in activity amid new branch openings.
2020-09-03
Mozambique Private Sector Contracts the Least in 4 Months
The Standard Bank Mozambique PMI increased to 46.2 in July 2020 from 41.7 in the previous month. The reading pointed to the fifth straight month of contraction in private activity, but the lowest since March, amid measure restrictions to curb the spread of COVID-19. Output and new orders fell at the weakest pace in four months, while employment declined at the slowest pace since April, and modest overall. Purchasing activity and backlogs of work also continued to decline, albeit at a much weaker pace than that seen in June. On the price front, input costs dropped for the fourth consecutive month due to a drop in supplier prices. Meanwhile, output charges rose for the first time since April, mainly due to a slower downturn in sales. Finally, sentiment improved, due to plans to expand into other regions.
2020-08-05
Mozambique Private Sector Contracts Softer in June
The Standard Bank Mozambique PMI rose to 41.7 in June 2020 from the second-lowest reading of 40 in the previous month. The reading pointed to the fourth straight month of contraction in private activity, amid the extension of quarantine measures to curb the spread of COVID-19. Output and new orders fell less, while employment dropped modestly. Purchasing activity and backlogs of work also continued to decline, linked to weaker demand. On the price front, input costs dropped for the third consecutive month due to a drop in supplier prices. Output charges also decreased, mainly due to offers of discounts to clients. Finally, sentiment remained strong, due to hopes that demand will rebound once the COVID-19 threat has diminished and lockdown restrictions eased.
2020-07-03

Mozambique Standard Bank PMI
The Standard Bank Mozambique PMI™ is compiled by IHS Markit from responses to questionnaires sent to purchasing managers in a panel of around 400 private sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. The sectors covered by the survey include agriculture, mining, manufacturing, construction, wholesale, retail and services. Survey responses are collected in the second half of each month and indicate the direction of change compared to the previous month. A diffusion index is calculated for each survey variable. The index is the sum of the percentage of ‘higher’ responses and half the percentage of ‘unchanged’ responses. The indices vary between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease. The indices are then seasonally adjusted. The headline figure is the Purchasing Managers’ Index™ (PMI). The PMI is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%). For the PMI calculation the Suppliers’ Delivery Times Index is inverted so that it moves in a comparable direction to the other indices.