The Stanbic Headline Purchasing Managers’ Index (PMI) dropped to 50.9 in June, from 51.5 in May on account of further deterioration of business conditions in the Ugandan private sector.
The headline Stanbic Purchasing Managers’ Index (PMI) posted 51.9 in March, down from 55.7 in February, but still signaling an improvement in business conditions as the health of Uganda’s private sector continues to strengthen during the last eight successive months.
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.
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 recently concluded nationwide 42-day lockdown intended to lessen the spread of a second wave of the Covid-19 pandemic across Uganda has added to the continued economic slowdown.
There are signs that the Ugandan economy is gradually returning to the old normal.
Growth and rise in business activities of the private sector, as seen at the end of the first quarter are pointing to that.
Stanbic Bank Uganda (SBU) has paid out a total of Shs110 billion to its shareholders for financial year 2019, continuing a long track record of returning consistently positive earnings despite prevailing challenges.
Business conditions deteriorated for the Ugandan private sector during January due to a reduction in new orders which caused a fall in employment as the country went through the General Elections period.
As continued easing of the coronavirus-prompted lockdown continues to shore up business activity, companies have regained confidence to hire more employees to meet production demands.
Press release -- Stanbic Bank has donated computers worth
