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Browsing: Uganda’s PMI report
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 …