Persistent high fuel prices hike input cost in May – Stanbic report
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 persistent high cost of fuel contributed to negative private sector activity in May with the Stanbic Headline Purchasing Managers Index (PMI) dropping to 51.5 from to 53.9 recorded in April—readings above 50.0 mean 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,
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