{"id":15322,"date":"2021-08-06T15:52:52","date_gmt":"2021-08-06T15:52:52","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=15322"},"modified":"2021-08-06T13:45:03","modified_gmt":"2021-08-06T13:45:03","slug":"low-demand-input-costs-force-drop-in-product-rates","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates","title":{"rendered":"Low demand, input costs force drop in product rates"},"content":{"rendered":"

Africa-Press<\/a> – Uganda<\/a>. <\/strong><\/span>Product prices reduced during July on account of low demand and lower than usual input costs, according to data from Stanbic Purchasing Managers\u2019 Index (PMI).<\/p>\n

The Index, which measures the monthly performance of the economy based on purchasing activities of different procurement officers and company managers, indicates that all measured categories, apart from agricultural products, registered a drop in product prices due to low demand and input costs.<\/p>\n

Product prices, the Index notes have reduced in both June and July due to subdued economic activity and Covid-19 induced disruptions.<\/p>\n

During July, the Index indicates, business output slipped further, falling to 34.6 in July, down from 34.9 in June.<\/p>\n

The decline was blamed on the 42-day Covid-19 induced lockdown, which ended last Thursday that sought to lessen the spread of Covid-19.<\/p>\n

The latest reading is well below the 52.5 average with output, new orders and employment all falling below the average during the last two months.<\/p>\n

The Index also notes that the Covid-19 induced lockdown is expected to create long-term impact with at least 55 per cent of respondents expecting sustained reductions in future.<\/p>\n

Mr Ronald Muyanja, the Stanbic Bank head of trading, said the reduction in prices had been noted for the first time in 14 months with companies lowing selling prices due to weak demand.<\/p>\n

However, he noted, companies had shown optimism, noting business activity would rebound post lockdown. \u201cOutput decreased across agriculture, construction, industry, services and wholesale and retail categories,\u201d Mr Muyanja said, noting that companies had also reported a possibility of a buildup in workloads due to the fact that companies had scaled back on employment and recruitment.<\/p>\n

During the period, overall input costs declined, ending a 13-month sequence. Suppliers\u2019 delivery times during July widened largely because of delays created by the lockdown, which was characterised with travel restrictions and roadblocks.<\/p>\n

Stocks of purchases decreased for the second consecutive month, reflecting a reduction in purchasing activity and lack of workloads.<\/p>\n

Close to 38 per cent of respondents signaled a reduction in inventories, compared with 11 per cent in June.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Product prices reduced during July on account of low demand and lower than usual input costs, according to data from Stanbic Purchasing Managers\u2019 Index (PMI). The Index, which measures the monthly performance of the economy based on purchasing activities of different procurement officers and company managers, indicates that all measured categories, apart […]<\/p>\n","protected":false},"author":84,"featured_media":15321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-15322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nLow demand, input costs force drop in product rates - Uganda<\/title>\n<meta name=\"description\" content=\"Product prices reduced during July on account of low demand and lower than usual input costs, according to data from Sta ...\" \/>\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\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Low demand, input costs force drop in product rates\" \/>\n<meta property=\"og:description\" content=\"Product prices reduced during July on account of low demand and lower than usual input costs, according to data from Sta ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-06T15:52:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2021\/08\/img-610d3cc983a26.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\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\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Low demand, input costs force drop in product rates\",\"datePublished\":\"2021-08-06T15:52:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates\"},\"wordCount\":347,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2021\/08\/img-610d3cc983a26.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/low-demand-input-costs-force-drop-in-product-rates\",\"name\":\"Low demand, input costs force drop in product rates - 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