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Uganda’s private sector continued its growth trajectory in October, marking the seventh consecutive month of expansion according to the latest Stanbic Purchasing Managers’ Index (PMI). Although the PMI fell slightly from September’s 54.2 to 52.9, it still signals positive growth in business conditions driven by strong demand, increased output, and new orders across multiple sectors. Data from Stanbic Bank, collected between October 10th and 29th, reveals that heightened demand has prompted companies to expand their production capacity and workforce. This trend is particularly evident in the manufacturing sector, where firms are increasing staffing levels to keep up with customer orders…
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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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The headline Stanbic Purchasing Managers Index (PMI) reached its highest point this year, posting 57.4 during May, up from 55.4 in April as success in securing new customers had a positive impact on the Ugandan private sector. Meanwhile, this further expansion in new orders and business activity has resulted in companies increasing their own input buying and raising staffing levels. The latest reading is above the 50.0 no-change mark for the seventh time in as many months and also higher than the series average of 52.5, reflecting widespread optimism that business activity will continue to expand over the coming 12…
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Business conditions for Uganda’s private sector were unchanged at the start of the fourth quarter of the year, following two months of improvement, the latest Stanbic Purchasing Managers’ Index (PMI) released reads in part. The headline Stanbic PMI for October was 50.0, the no-change mark signaling stable business conditions during the month, but down from 51.6 recorded in September and below the average since the survey began in June 2016. However, on a positive note, the October survey shows that output, new orders and employment all expanded. The latter for the first time in five months and there were reductions…
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Increasing inflationary pressures dented private sector business activity during July as the headline Stanbic Purchasing Managers’ Index (PMI) dipped below the threshold 50.0 no-change mark for the first time this year. The PMI dropped from 50.9 recorded in June to 48.2 in July with firms scaling back their employment and purchasing activity and ending an 11-month sequence of expansion. Readings above 50.0 mean improvement in business conditions on the previous month while readings that are below 50.0 show deterioration. The Stanbic PMI is based on findings that cover agriculture, industry, construction, wholesale & retail and service sectors. It is a…
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Uganda’s private sector recorded a third successive monthly increase in business activity during October thanks to a return to normal operating conditions and increase in new orders, but companies were not hiring more workers during this period. The headline Stanbic Purchasing Managers’ Index (PMI) rose to 54.6 in October from 52.5 in September above the threshold 50.0 reading that indicates a positive outlook. However, employment continued to fall in October as some firms were reluctant to hire additional staff amid cost pressures. Workforce numbers decreased for the fifth month running, with employee expenses also down. Ronald Muyanja, the Head of…
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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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The Ugandan economy is gradually returning to the old normal seen from the growth and rise in business activities of the private sector at the end of the first quarter are pointing to that. The headline Stanbic Purchasing Managers’ Index (PMI) posted 53.2 in March, up from 51.2 in February signaling an improvement in business conditions for the second month running. The latest reading was the highest since last November and is just above the series average of 52.9. Sponsored by Stanbic Bank and produced by IHS Markit, the monthly survey involves a questionnaire to some 400 purchasing managers and…
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