Released: 5 January 2021
Mongolian Economy Badly Impacted By The On-Going Lockdown
The Mongolian economy, having continued its recovery from recession through till October, was badly hit by the sudden near complete Government imposed lockdown in November, following the discovery of the first locally transmitted cases of Covid.
The continued dislocation of economic activity in December has further hurt the economy, with all of the activity related indexes now in the 30 index area, far below the 50 “no growth" line. In other words, the Mongolian economy has been very badly hurt by the lockdown.
Activity levels are far below normal, even allowing for the harsh winter conditions also being experienced, and exacerbating the impact of Covid, which clearly (like colds and influenza) has a greater impact in winter conditions. The Mongolian winter is of course one of the harshest on planet earth.
The lockdown that has been imposed in Mongolia is also very strict, impacting all businesses except supermarkets, food shops, gas stations and hospitals. Police patrol 24/7 to ensure compliance, and many major roads have roadblocks and control points.
Consequently the Sales Managers Indexes for December all show sharp falls.
Economic activity is likely to remain depressed until such time as the Government considers it safe to allow businesses to re-open.
Mongolia: Headline Sales Managers Index
The Headline Sales Managers' Index (SMI) - a composite indicator designed to provide the most up-to-date assessment of business activity.
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- HEADLINE SALES MANAGERS’ INDEX (SMI)
- BUSINESS CONFIDENCE INDEX
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- CURRENCY STRENGTH INDEX
- PROFIT MARGINS INDEX
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