economic outlook

Ugandan businesses maintained a broadly optimistic outlook through 2025, supported by steady order flows and firm expectations for the near term, even as credit conditions tightened and confidence eased toward the end of the year. The overall business confidence index averaged 58.3, remaining comfortably above the 50-point optimism threshold. Sentiment climbed to 59.5 in May, then slipped through the final quarter, reaching 56.2 in November before edging up to 57.2 in December. Future expectations outpace present conditions Businesses reported modestly positive operating conditions, generally in the mid-50s, while expectations for the next three months consistently remained stronger. Forward-looking confidence peaked…