The headline Stanbic Purchasing Managers’ Index (PMI) moved back above the 50.0 mark in August, posting 50.2 from 34.6 in July. Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration. The growth is attributed to the partial lifting of the 42-day COVID-19 lockdown in Uganda which helped spur a return to growth of both business activity and new orders in August, with companies confident of further growth over the coming year. Ronald Muyanja, the Head of Trading at Stanbic Bank Uganda said, “a return to growth in output and…
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