The Standard Bank Mozambique PMI declined to 50.4 in January 2020 from 50.8 in December 2018, the lowest since October last year. New order growth slowed, leading to softer rises in output and employment, as well as relatively strong drop in input buying. The job creation growth softened to a modest pace that was the weakest since October last year. On the price front, the rate of inflation ticked up to a three-month high, driven by higher purchase prices. Meanwhile, output charges were lowered for the fourth month running, as firms locked to strengthened sales growth. Finally, sentiment remains positive but fell markedly in January, after hitting a two-year high at the end of 2019.

Composite Pmi in Mozambique is expected to be 52.70 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 54.00 in 12 months time. In the long-term, the Mozambique Standard Bank PMI is projected to trend around 54.30 points in 2021, according to our econometric models.


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Mozambique Standard Bank PMI

Actual Previous Highest Lowest Dates Unit Frequency
50.40 50.80 52.80 49.90 2019 - 2020 points Monthly
SA


News Stream
Mozambique Private Sector PMI Lowest in 3 Months
The Standard Bank Mozambique PMI declined to 50.4 in January 2020 from 50.8 in December 2018, the lowest since October last year. New order growth slowed, leading to softer rises in output and employment, as well as relatively strong drop in input buying. The job creation growth softened to a modest pace that was the weakest since October last year. On the price front, the rate of inflation ticked up to a three-month high, driven by higher purchase prices. Meanwhile, output charges were lowered for the fourth month running, as firms locked to strengthened sales growth. Finally, sentiment remains positive but fell markedly in January, after hitting a two-year high at the end of 2019.
2020-02-06
Mozambique Private Sector PMI Edges Up in December
The Standard Bank Mozambique PMI inched higher to 50.8 in December 2019 from 50.7 in November. Output rose further and new orders growth increased at joint-softest rate for 19 months. Meantime, the rate of job creation strengthened to a 30-month high as hopes for greater business activity in the coming year were most upbeat since the end of 2017. On the price front, overall input cost inflation was broadly unchanged, while output prices dropped for the third month running, and the fastest rate on record. Looking ahead, business sentiment was the strongest in two years, mainly due to expectations of new projects and company investment.
2020-01-06
Mozambique Private Sector Growth Remains Weak
The Standard Bank Mozambique PMI increased to 50.7 in November 2019 from 50.3 in October, still pointing to the second-weakest expansion in the country's private sector in seven months. Output rose slightly, following the first reduction in 15 months in the previous month and new orders growth remained subdued despite accelerating slightly from October. Meantime, the rate of job creation was the fastest in eight months and the second-quickest in nearly two-and- a-half years which helped backlogs of work to decline further. On the price front, cost burdens increased at a softer and moderate pace, while output prices dropped for the second month running. Looking ahead, business sentiment hit an 8-month high, as companies believed they were well-positioned to expand the company.
2019-12-04
Mozambique Private PMI Falls to 6-Month Low
The Standard Bank Mozambique PMI declined to 50.3 in October 2019 from 51.1 in August, pointing to the weakest expansion in the country's private sector since April. Output fell for the first time in 15 months and new orders growth weakened to a 16-month low, amid reports of a lack or raw materials and also subdued market conditions linked to the national election. Meantime, employment increased at a marginal pace that was the weakest in 6 months. Meanwhile, backlogs were cleared at the sharpest rate since July 2018. On the price front, cost burdens increased solidly, while output prices fell at the fastest pace on record. Looking ahead, business sentiment remained positive, as companies expected an increase in output amid new marketing strategies, products and branch opening.
2019-11-05

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.