The Sales Managers’ Index for Mongolia fell sharply in November as its economic growth slowed down, according to the ‘World Economics”.

This represents the fifth monthly fall in the index value after a run of 6 consecutive monthly gains came to an end in June. The fall was due to a decrease in business confidence index and a rise in inflation. According to the World Economics, higher price of fuel, electricity and food are adversely affecting the economic growth of Mongolia. However, lower coal exports to China did not affected the Index.

The World Economics reported that the economic slowdown of Mongolia is a short-term change, and in the long-term, overall economic growth continues at a reasonably rapid rate. In other words, the index is being kept in the growth zone.

Source: BloombergTv.mn