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The monthly Stanbic Purchasing Managers’ Index (PMI), a measure of Uganda’s private sector business confidence, saw a slight drop from 57.4 in May to 56.4 in June, but optimism remains high on the back of improving customer demand which is sustaining growth of output due to new orders. The Stanbic PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 private sector companies. The sectors covered by the survey include agriculture, mining, manufacturing, construction, wholesale, retail and services. The PMI is a weighted average of the following five indices: New…
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A return to normality in the Ugandan economy helped lead to a further improvement in business conditions in the private sector during February, according to the Stanbic Bank sponsored Purchase Managers Index produced by IHS Markit. According to the index, output, new orders, employment and purchasing activity were all up and companies were optimistic for the coming year. That said, inflationary pressures remained evident. The headline PMI rose to 55.7 in February, up from 54.9 in January and comfortably above the series average. The health of the private sector has now improved in each of the past seven months, according…
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The final month of 2021 saw further increases in output and new orders in the Ugandan private sector as demand continued to improve, according to Stanbic’s Purchasing Managers’ Index published today. However, the index shows, employment decreased following a rise in November and that price pressures were evident again. As a result, the headline PMI fell to 51.5 in December, down from 54.1 in November. Although pointing to a fifth successive improvement in business conditions in the private sector, the latest PMI figure was below the average since the series began in June 2016. Ronald Muyanja, the Head of Trading…
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Business sentiment in Uganda’s private sector remained positive but slow in September on account of new orders and higher output, according to the monthly Stanbic Bank Purchasing Managers Index (PMI). The headline PMI registered 52.5 in September compared to the 50.2 in August; a weak gain although still above the 50.0 threshold for the third month running. Nonetheless, the latest reading is slightly lower than the monthly average of 52.9 recorded since the survey first began in June 2016. Ronald Muyanja, the Trading, Global Markets Head at Stanbic Bank Uganda said, the Ugandan private sector was able to build on…
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