Mozambique Composite PMI

Last Release

Jul 31, 2024

Actual

50.6

Units In

Points

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
52.9 Jun 2021	37.1 Apr 2020	49.85 Points	2019-2024	Markit Economics

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.

Latest Updates

The Standard Bank Mozambique PMI fell to 48.4 in November 2024 from 50.2 in October, indicating the first contraction in seven months. This decline was driven by reduced capacity and weaker demand due to protests and strikes following the general election. New business volumes fell across all sectors, ending a nine-month growth streak. Employment dropped at the fastest rate since March 2021 as companies sought to control costs, and purchasing activity declined sharply, leading to reduced inventories. Supply chains faced significant disruptions, with delivery times at their longest on record, partly due to border closures with South Africa. On prices, input costs fell for the first time in a year, driven by lower supplier charges and reduced staff costs, prompting selling prices to rise slightly. Finally, business confidence weakened to a four-year low amid concerns over prolonged political tensions, fiscal pressures, and foreign exchange imbalances.