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There are rising employment levels for the last six months as the country continues to recover from the COVID-19 pandemic hit. According to Stanbic Bank Uganda’s Purchase Managers’ Index (PMI) for the month of November, job creation was signalled in country’s private sector for the first time in six months during the month as companies responded to market needs. The headline PMI posted 54.1 in November, down slightly from 54.6 in October. Ferishka Bharuth, an Economist – Africa Regions at Stanbic Bank commented said, though the headline PMI slightly reduced in November compared to the previous month, the PMI…
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Uganda’s private sector continues to recover in April with business conditions, employment and purchasing orders consistently improving since February securing greater volumes of new orders amidst normal operating condition. The headline Stanbic Purchasing Managers’ Index (PMI) rose to 57.8 in April from 53.2 in March, signaling a third successive monthly improvement in business conditions since the series began with an average of 53.0. Ronald Muyanja, the Head of Trading, Stanbic Bank Uganda said, “Firms posted an increment in new orders and output across each of the five broad sectors thereby extending the current sequence of expansion and growth at the…
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