Sales Managers Index readings beginning to trend higher and showing business confidence says MGG
The financial condition of the country was definitely holding back the economy and creating a pessimistic atmosphere in the country and among investors.
The financial condition of the country was definitely holding back the economy and creating a pessimistic atmosphere in the country and among investors. That pessimism appears to be abating as the recent Sales Managers Index readings are beginning to trend higher and are showing that business confidence is at its highest level since August 2013, says Mongolian Growth Group. The Headline Mongolian Sales Managers' Index (SMI) was 44.7 in April, a solid improvement from the level of 41.7 in March. There has been a rapid increase in the levels of all component indexes of the SMI over the past 6 months, indicating that the economy has turned a corner from the low in 2016. There is the prospect of renewed growth over the coming months if the current trends continue. In unadjusted terms the Market Growth Index grew to 49.6 in April, the highest level since January 2014, says Mongolian Growth Group.
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