Stanbic Bank PMI: Increase in demand for goods boosted economy in October

The demand for goods and purchasing activity significantly in October a welcome sign for the economy that has stuttered due to global supply constraints and after effects of Covid-19. According to the Stanbic Bank Purchasing Manager’s Index, the private sector reported increases in output and new orders. Christopher Legilisho, an economist at Stanbic Bank said Uganda’s October PMI indicated a further improvement in private-sector activity, with both output and new orders rising for a 15th consecutive month due to solid client demand. “Private-sector hiring increased for a seventh month running, with firms having hired more staff on permanent and temporary…