{"id":33957,"date":"2023-02-13T11:32:51","date_gmt":"2023-02-13T11:32:51","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low"},"modified":"2023-02-13T11:59:36","modified_gmt":"2023-02-13T11:59:36","slug":"pmi-index-slips-into-12-month-low","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low","title":{"rendered":"PMI index slips into 12-month low"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mozambique. <\/strong><\/span>The PMI index of Mozambican business activity fell to 48.2 in January, the lowest reading in 12 months, signalling a contraction in the economy, announced Standard Bank, which conducts the survey.<\/p>\n<p>\u201cThis reflects month on month contractions in output, new orders, and stocks of purchases, which in general was accompanied by softer output and input prices [slipping into a 12-month low of 48.2 in Jan 23, from 50 in Dec 22],\u201d said Fa\u0301usio Mussa\u0301, chief economist at Standard Bank Moc\u0327ambique, in a comment that accompanies the index.<\/p>\n<p>Having printed below the 50-benchmark level, the January PMI \u201csuggests a contraction in economic growth compared with the previous month\u201d.<\/p>\n<p>This latest reading signalled \u201ca modest deterioration in the health of the private sector economy, and the first since the Omicron COVID-19 wave in January 2022\u2032\u2032.<\/p>\n<p>\u201cClearly this economy is experiencing a softer aggregate demand in January on further monetary policy tightening to help fight inflation, which should see the recent increases in both local and foreign currency required reserves ratios translating into tighter liquidity conditions,\u201d he added.<\/p>\n<p>On a positive note, the drop in sales \u201chelped firms to lower backlogs of work\u201d, with the rate of depletion being \u201camong the quickest for two-and-a-half years\u201d.<\/p>\n<p>In the same bulletin, Fa\u0301usio Mussa\u0301 said that Standard Bank forecasts Mozambique\u2019s GDP growth to \u201cmodestly rise to 4.2% y\/y in 2023,\u201d with annual inflation \u201ceasing towards 9.9% at the end of the year, from 10.9% y\/y last December\u201d.<\/p>\n<p>The Standard Bank Mozambique PMITM is compiled by S&amp;P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 private sector companies.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mozambique\">Mozambique<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mozambique. The PMI index of Mozambican business activity fell to 48.2 in January, the lowest reading in 12 months, signalling a contraction in the economy, announced Standard Bank, which conducts the survey. \u201cThis reflects month on month contractions in output, new orders, and stocks of purchases, which in general was accompanied by softer [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":33956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-33957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PMI index slips into 12-month low - Mozambique<\/title>\n<meta name=\"description\" content=\"The PMI index of Mozambican business activity fell to 48.2 in January, the lowest reading in 12 months, signalling a con ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PMI index slips into 12-month low\" \/>\n<meta property=\"og:description\" content=\"The PMI index of Mozambican business activity fell to 48.2 in January, the lowest reading in 12 months, signalling a con ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-13T11:32:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-13T11:59:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/02\/postQueueImg_1676275389.15.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"896\" \/>\n\t<meta property=\"og:image:height\" content=\"558\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"PMI index slips into 12-month low\",\"datePublished\":\"2023-02-13T11:32:51+00:00\",\"dateModified\":\"2023-02-13T11:59:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low\"},\"wordCount\":282,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/02\/postQueueImg_1676275389.15.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/pmi-index-slips-into-12-month-low\",\"name\":\"PMI index slips into 12-month low - 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