THIS WEEK: Rise in orders gives hope to Uganda’s private sector
Kampala, Uganda | THE INDEPENDENT | Uganda‘s private sector has continued to register an increase in both output and new orders for the seventh consecutive month during August.
The latest Stanbic Bank’s Purchasing Managers’ Index (PMI), which is based on data compiled from monthly replies to questionnaires sent to purchasing executives in approximately 400 private sector companies, shows that PMI went up to 54.3% compared with 54.1% during the past month.
Although not too much above the tipping point of 50 % the latest PMI reflects a gradual recovery from the pessimism that prevailed during much of 2016.
More than 36% of the participants reported a rise in output compared to 24% registering a decline. Similarly, approximately 38% of survey panelists recorded greater inflows of new orders while 23% of firms saw falling new business.