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.

Composite Pmi in Mozambique is expected to be 42.00 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 51.00 in 12 months time. In the long-term, the Mozambique Standard Bank PMI is projected to trend around 51.00 points in 2021 and 52.00 points in 2022, according to our econometric models.

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Mozambique Standard Bank PMI

Actual Previous Highest Lowest Dates Unit Frequency
41.70 40.00 52.80 37.10 2019 - 2020 points Monthly
SA


News Stream
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 Private Sector Contracts Softer in May
The Standard Bank Mozambique PMI rose to 40.0 in May 2020 from a record low of 37.1 in the previous month, pointing to the third straight month of contraction in private activity and the second-lowest reading since the series began in April 2015, amid the extension of quarantine measures to curb the spread of COVID-19. Output and new business declined sharply, while employment saw a solid drop that was close to the survey record. Purchasing activity also decreased at a sharp pace, amid government restrictions on movements. Meanwhile, backlogs declined for the second month running, linked to weaker incoming orders. On the price front, both input and output prices fell, due to weaker demand. Finally, sentiment improved, attributed to ongoing efforts to grow companies and improve market share, alongside hopes of a relaxation of emergency measures in the near future.
2020-06-03
Mozambique Private Sector Contracts at Record Pace
The Standard Bank Mozambique PMI decreased to 37.1 in April 2020 from 49.9 in the previous month, pointing to the second straight month of contraction in private activity and the lowest reading on record since the series began in April 2015, amid the escalation of the coronavirus pandemic. Output, new orders and the stock of purchases fell to record lows, signaling a severe reduction in activity, amid government restrictions on movements. At the same time, employment fell for the first time in a year-and-a-half but the reduction was only modest. Meanwhile, backlogs declined for the first time since January, linked to weaker incoming orders. On the price front, the rate of inflation softened driven by lower in both raw material prices and salaries. Meanwhile, output charges rose for the third month in a row, albeit only marginally. Finally, despite lower expectations, sentiment remained positive.
2020-05-06
Mozambique Private Sector Shrinks for 1st Time in 11 Months
The Standard Bank Mozambique PMI decreased to 49.9 in March 2020 from 51.6 in the previous month, pointing to the first contraction in private activity since last April. Output shrank slightly and news orders growth slowed due to the impact of the coronavirus epidemic on demand. In addition, employment growth continued to weaken, to the slowest in eleven months. On the price front, the rate of inflation softened driven by higher raw material prices and currency weakness. Meanwhile, output charges rose for the second straight month, albeit only marginally. Finally, sentiment remained positive, due to plans to introduce new products and expand client bases.
2020-04-03

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.