The Stanbic Purchasing Managers’ Index (PMI) rose to 53.9 in April from 51.9 in March on account of further improvement in private sector output and new orders as demand strengthened, helping generate new jobs. Readings above 50.0 indicate improvement in business conditions on the previous month while readings that are below 50.0 show deterioration—the Stanbic PMI covers the agriculture, industry, construction, wholesale & retail, and service sectors. Ronald Muyanja, Head of Trading at Stanbic Bank Uganda, said: improving customer numbers enabled companies to secure greater volumes of new business at the start of the second quarter, in turn feeding through…
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