Stanbic PMI Archives – CEO East Africa

COVID-19: Stanbic’s March 2020 Purchasing Managers Index hits 3-year low as private sector enters into contraction

Muhereza KyamuteteraCompany News The Big StoryApril 8, 2020April 8, 2020

The Stanbic Purchase Managers Index (PMI) for March has recorded the first decline in business activity. This is due to the global coronavirus disease 2019 (COVID-19) pandemic which has led to falling new business, company shutdowns and issues with the supply of materials, thus pushing the Ugandan private sector into contraction. The headline PMI posted below the 50.0 no-change mark at 45.3 in March, following a reading of 56.2 in February. This marked the first deterioration in business conditions in the private sector since January 2017. Kenneth Kitungulu Stanbic Bank Uganda Head of Global Markets said, “COVID-19 caused issues in…

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Stanbic September report bullish about economy; demand grows backed by credit growth

CEO East Africa MagazineBanking & Financial ServicesOctober 7, 2019October 7, 2019

The Stanbic Purchase Manager’s Index (PMI) for September shows that the private sector activity remained in the growth territory at the end of the third quarter of 2019. The survey, sponsored by Stanbic Bank and produced by IHS Markit, indicates that ability of firms to secure additional customers resulted in higher new orders and a subsequent expansion of business activity. Meanwhile, both input costs and output prices continued to increase. Benoni Okwenji, Stanbic Bank’s Fixed Income Manager The headline PMI was 55.7 in September, down from 57.5 in August, but still above the 50.0 no-change mark. Stanbic Bank Fixed Income…

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