By Our Reporter
The Stanbic Bank Purchase Managers Index (PMI) for June indicates that operating conditions in Uganda improved over the past month on the back of renewed local demand which led to an increase in output, new orders, employment and the purchase of new stocks.
Anne Juuko Stanbic Bank’s Head of Global Markets said, “The headline seasonally adjusted PMI posted a respectable 52.8 in June up from 51.0 in May indicating a further improvement in private sector business conditions for the fifth time in as many months. The upward trajectory of two of the private sector monitored categories namely Industry and Services performed so well they more than offset the worsening of the overall operating conditions in the remaining sectors. Ugandan private sector firms continued to raise their payroll numbers, with job creation seen in construction and services.
