The Standard Bank Mozambique PMI inched down to 49.3 in December 2020 from 49.4 in the previous month. The reading pointed to the tenth straight month of contraction in private activity, as the impact of the COVID-19 pandemic remained weaker than seen earlier in the year. New orders declined at a faster pace, amid a drop in client numbers and reports that export goods took longer to arrive at destinations. Meantime, output continued to expand while employment rose at the strongest pace in ten months. Purchasing activity dropped for first time in three months, due to a fall in new orders. On the price front, input costs increased for first time in nine months, due to a weaker exchange rate and higher staff cost. As a result, selling prices increased marginally. Finally, sentiment strengthened, on hopes of a global recovery due to the development of COVID-19 vaccines. source: Markit Economics

Composite PMI in Mozambique is expected to be 49.60 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 51.30 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
49.30 49.40 52.80 37.10 2019 - 2020 points Monthly
SA


News Stream
Mozambique Private Sector Contracts Further
The Standard Bank Mozambique PMI inched down to 49.3 in December 2020 from 49.4 in the previous month. The reading pointed to the tenth straight month of contraction in private activity, as the impact of the COVID-19 pandemic remained weaker than seen earlier in the year. New orders declined at a faster pace, amid a drop in client numbers and reports that export goods took longer to arrive at destinations. Meantime, output continued to expand while employment rose at the strongest pace in ten months. Purchasing activity dropped for first time in three months, due to a fall in new orders. On the price front, input costs increased for first time in nine months, due to a weaker exchange rate and higher staff cost. As a result, selling prices increased marginally. Finally, sentiment strengthened, on hopes of a global recovery due to the development of COVID-19 vaccines.
2021-01-06
Mozambique Private Sector Contracts the Least in 8 Months
The Standard Bank Mozambique PMI rose to 49.4 in November 2020 from 48.1 in the previous month. The reading pointed to the ninth straight month of contraction in private activity, but the smallest since March, amid the lessening impact from the coronavirus pandemic. Output contraction eased, while new orders declined slightly, marking the weakest reduction in the current eight-month downturn. Meantime, input stocks fell slightly, whilst buying activity was unchanged after a slight uptick in October. At the same time, employment increased at the fastest pace in nine months. On the price front, input costs continued to fall, supporting the first drop in output charges since June. Finally, sentiment strengthened, on hopes for new investments and expectations of an end to the COVID-19 pandemic.
2020-12-03
Mozambique Composite PMI Highest in 7 Months
The Standard Bank Mozambique PMI rose to 48.1 in October 2020 from 46.6 in the previous month. The reading pointed to the eighth straight month of contraction in private activity, but the smallest since March, amid the gradual lifting of coronavirus restrictions. Output contraction eased, while new orders fell at the softest pace in the current seven-month sequence of decline and firms raised their purchasing activity for the first time in seven months. Meantime, employment decreased fractionally amid a continued lack of pressure on capacity. Purchasing activity increased, however, thereby ending a six-month sequence of decline. On the price front, input costs dropped for the seventh consecutive month, amid weaker demand for inputs. Meanwhile, output charges rose for the fourth straight month, albeit at a marginal pace that was the slowest since July. Finally, sentiment weakened to the lowest since November 2016, amid concerns over the long-run impact of the pandemic.
2020-11-04
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 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.