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.

Composite Pmi in Mozambique is expected to be 22.00 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 52.00 points in 2021 and 52.30 points in 2022, according to our econometric models.

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Mozambique Standard Bank PMI

Actual Previous Highest Lowest Dates Unit Frequency
37.10 49.90 52.80 37.10 2019 - 2020 points Monthly
SA


News Stream
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 Private Sector Growth at 6-Month High
The Standard Bank Mozambique PMI increased to 51.6 in February 2020 from 50.4 in the previous month. The reading pointed to the strongest expansion in private activity since last August, as new orders growth hit a six-month high, amid greater client demand, new products, and increased construction activity. As a result, output grew the most in seven months. In contrast, employment growth continued to weaken to the slowest in four months. On the price front, the rate of inflation ticked up mainly driven by higher raw material prices. Also, output charges rose modestly for the first time in six months, with firms often citing a weakening metical value. Finally, business sentiment was the strongest since March 2019, due to the expected improvement in demand growth.
2020-03-04
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 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.