Browsing: Stanbic bank PMI report

• Businesses in Kenya only saw a mild improvement in operating conditions in October 2022
• The latest Purchasing Managers’ Index showed that ongoing concerns about the rising cost of living led to a softer expansion in new orders and a renewed drop in output
• Inflationary pressures remained severe, as firms highlighted a record increase in purchasing costs from the previous month

According to the latest Purchasing Managers’ Index, businesses in Kenya only saw a mild improvement in operating conditions in October 2022.

The Stanbic Bank Kenya survey showed that ongoing concerns about the rising cost of living led to a softer expansion in new orders and a renewed drop in output.

Despite this, employment continued to rise amid increased backlogs, while firms were the most upbeat about the
outlook for activity since July 2021.

“October’s PMI continued to signal an improvement in business conditions, albeit with a loss of momentum
compared …

Uganda’s private sector continues to recover from the impact of the Covid-19 pandemic as business conditions improved in August after a near standstill of activities during the lockdown put in place between March and the end of May.

This is according to the latest  Stanbic Purchase Managers Index (PMI) report which shows that Uganda posted a 54.6 increase from 50.3 in July, which is the highest since February.

According to the report, the reading is above the positive threshold of 50.0 and substantially higher than the 46.5 reported for June.

The PMI is a composite index, calculated as a weighted average of five individual sub-components: New Orders (30 per cent), Output (25 per cent), Employment (20 per cent), Suppliers’ Delivery Times (15 per cent and Stocks of Purchases (10 per cent).

According to Stanbic Bank Uganda head of global markets, Kenneth Kitungulu, the steady improvement is due to the fewer …