KAMPALA, UGANDA- The Ugandan Private Sector registered an improvement in Business conditions in October. There were increases in output, new orders, employment numbers and stock purchases. The headline Stanbic PMI index registered a 52.8 reading.
Releasing the October Stanbic PMI findings, Jibran Qureishi, Stanbic Bank’s Regional Economist for East Africa revealed, “We continue to see a gradual improvement in business conditions within the private sector in Uganda, although the pace of improvement has slowed down somewhat since August. We attribute this to the prolonged political impasse in Kenya which is by far Uganda’s leading trade partner.