The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | During September, Uganda’s private sector saw an increase in employment and purchasing activity as demand conditions remained favorable, resulting from the continued growth of new orders and enhanced business activity.
The monthly headline Stanbic Purchasing Managers Index (PMI) rose to 52.9 in September, up from 51.6 in August the eleventh consecutive monthly improvement in the health of the private sector and was slightly above the series average of 52.6 where readings below 50.0 show deterioration.
Christopher Legilisho, Economist at Stanbic Bank said, “The September data pointed to a further monthly rise in business activity in the Ugandan private sector, extending the current sequence of growth to 14 months. Employment rose for the sixth consecutive month, with firms linking the latest expansion to higher new orders and efforts to deplete outstanding business.
Rising new order volumes encouraged companies to expand their purchasing activity in the final month of the year’s third quarter. Input buying has now increased in each of the past 11 months.” The Stanbic PMI is compiled by S&P Global from responses to questions sent to purchasing managers in the agriculture, mining, manufacturing, construction, wholesale, retail, and services sectors.
The PMI is a weighted average of the following five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%).
