The Standard Bank Mozambique PMI increased to 51.3 in April of 2021 from 49.1 a month earlier, signaling a recovery from the impact of the COVID-19 pandemic. The latest reading marked the first time expansion in the private sector in 14 months, as increases in both output and new orders, leading to a strong rise in input purchases and inventory building. At the same time, employment fell for a third straight month, however, leading to capacity pressures at a number of businesses, with backlogs of work rose to the greatest extent since the survey began six years ago. On the price front, input costs rose at the fastest pace since March 2020, due to a faster rise in raw material prices. As a result, selling prices continued to increase, although the pace of inflation eased slightly from the previous survey period. Finally, business sentiment strengthened to the highest since the end of 2019. source: Markit Economics

Composite PMI in Mozambique is expected to be 48.00 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 49.70 in 12 months time. In the long-term, the Mozambique Standard Bank PMI is projected to trend around 51.00 points in 2022 and 52.00 points in 2023, according to our econometric models.

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Mozambique Standard Bank PMI

Actual Previous Highest Lowest Dates Unit Frequency
51.30 49.10 52.80 37.10 2019 - 2021 points Monthly
SA


News Stream
Mozambique Private Sector Returns to Growth
The Standard Bank Mozambique PMI increased to 51.3 in April of 2021 from 49.1 a month earlier, signaling a recovery from the impact of the COVID-19 pandemic. The latest reading marked the first time expansion in the private sector in 14 months, as increases in both output and new orders, leading to a strong rise in input purchases and inventory building. At the same time, employment fell for a third straight month, however, leading to capacity pressures at a number of businesses, with backlogs of work rose to the greatest extent since the survey began six years ago. On the price front, input costs rose at the fastest pace since March 2020, due to a faster rise in raw material prices. As a result, selling prices continued to increase, although the pace of inflation eased slightly from the previous survey period. Finally, business sentiment strengthened to the highest since the end of 2019.
2021-05-05
Mozambique Private Sector Contracts for 13th Month
The Standard Bank Mozambique PMI stood at 49.1 in March of 2021, unchanged from a month earlier, signalling a slight deterioration in business conditions during the latest survey period, amid the coronavirus pandemic. The latest reading marked the thirteenth straight month of contraction in the sector, as output declined at a modest pace, while new orders shrank at the marginal rate. At the same time, employment fell at the fastest pace since August 2020. On the price front, input costs inflation accelerated, due to a currency weakness and input shortages. As a result, selling prices increased to the fastest pace in over a year. Finally, business sentiment weakened from February's nine-month high.
2021-04-05
Mozambique Private Sector Contracts at Softer Pace
The Standard Bank Mozambique PMI rose to 49.1 in February of 2021 from 47.5 a month earlier, indicating the downturn in the private sector economy eased, amid the coronavirus pandemic. Output declined at a softer rate, while new orders shrank at the weakest seen in the current 11-month sequence of decline. Meanwhile, employment fell for the first time since last October, as respondents continued to indicate excess capacity. On the price front, input costs inflation accelerated, due to a rise in prices of materials. As a result, selling prices increased slightly. Finally, sentiment strengthened to its highest since May 2020 as firms projected a rise in customer numbers and improving economic conditions in the near future.
2021-03-03
Mozambique Private Sector Shrinks the Most in 4 Months
The Standard Bank Mozambique PMI declined to 47.5 in January of 2021 from 49.3 in December 2020, indicating a solid deterioration in the sector and the fastest seen in four months, amid the coronavirus pandemic. Output and new orders both declined sharply, after having neared stabilisation at the end of 2020. Meanwhile, employment rose for the third successive month, with growth accelerating to the fastest in a year. Purchasing activity dropped for the second straight month, due to a fall in new orders. On the price front, input costs inflation eased, due to a weaker exchange rate. As a result, selling prices increased slightly. Finally, sentiment strengthened, as firms often cited plans to expand their operations.
2021-02-04

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.