The Headline Sales Managers’ Index (SMI) for Mongolia continued to fall back on its summer gains to post a value of 56.3 in October. 

This represents the fourth monthly fall in the index value after a run of 6 consecutive monthly gains came to an end in June. In October, the Market and Sales Growth Indexes both experienced sharp drops during the month which has also been reflected in reduced business confidence levels. Sales Managers are reporting that the weakness of the Tugrik is hurting their businesses as the Tugrik is still near its lowest exchange rate against the Chinese Yuan for well over 10 years. Despite the problems, overall economic growth continues at a reasonably rapid rate.

Source: WorldEconomics.com