Business picks up as private sector warms up to relaxed lockdown measures
Ronald Muyanja, the Head of Trading at Stanbic Bank Uganda. He says some firms reported that they had been able to secure new customers over the month, thereby leading to higher new orders
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 o
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