The Stanbic Bank Uganda PMI fell to 52.9 in October 2024, down from 54.2 in the previous month. Despite the decline, the latest reading indicated a sustained expansion in the Ugandan private sector, marking the seventh consecutive month of growth. Businesses increased their output again in October as new orders continued to rise, with demand conditions remaining buoyant. This led firms to hire additional staff despite back-to-back depletions in backlogs of work. Firms also expanded their input purchases. Meanwhile, cost inflation rose in October, fueled by higher wage bills and purchase prices. Higher costs were largely passed through to customers, as selling prices increased again. Looking ahead, business confidence remained positive amid planned advertising spending and hopes of positive demand trends. source: S&P Global

Composite PMI in Uganda decreased to 52.90 points in October from 54.20 points in September of 2024. Composite PMI in Uganda averaged 52.67 points from 2016 until 2024, reaching an all time high of 58.80 points in January of 2020 and a record low of 21.60 points in April of 2020. This page provides - Uganda Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Composite PMI in Uganda decreased to 52.90 points in October from 54.20 points in September of 2024. Composite PMI in Uganda is expected to be 53.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Related Last Previous Unit Reference
Business Confidence 57.50 57.50 points Oct 2024
Changes in Inventories 1061.00 962.00 UGX billion Dec 2022
Corruption Index 26.00 26.00 Points Dec 2023
Corruption Rank 141.00 142.00 Dec 2023
Leading Economic Index 0.20 0.36 percent Sep 2024

Uganda Composite PMI
The Stanbic Bank Uganda Purchasing Managers’ Index is based on data compiled from monthly replies to questionnaires sent to purchasing executives in approximately 400 private sector companies, which have been carefully selected to accurately represent the true structure of the Ugandan economy, including agriculture, construction, industry, services and wholesale & retail. The panel is stratified by GDP and company workforce size. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. A reading above 50 indicates an overall increase in that variable, below 50 an overall decrease. The Purchasing Managers’ Index™ (PMI™) is a composite index based on five of the individual sub-components with the following weights: New Orders - 0.3, Output - 0.25, Employment - 0.2, Suppliers’ Delivery Times - 0.15, Stock of Items Purchased - 0.1, with the Suppliers’ Delivery Times sub-component inverted so that it moves in a comparable direction. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.


News Stream
Uganda Private Sector Growth Eases
The Stanbic Bank Uganda PMI fell to 52.9 in October 2024, down from 54.2 in the previous month. Despite the decline, the latest reading indicated a sustained expansion in the Ugandan private sector, marking the seventh consecutive month of growth. Businesses increased their output again in October as new orders continued to rise, with demand conditions remaining buoyant. This led firms to hire additional staff despite back-to-back depletions in backlogs of work. Firms also expanded their input purchases. Meanwhile, cost inflation rose in October, fueled by higher wage bills and purchase prices. Higher costs were largely passed through to customers, as selling prices increased again. Looking ahead, business confidence remained positive amid planned advertising spending and hopes of positive demand trends.
2024-11-05
Uganda Private Sector Growth Remains Strong
The Stanbic Bank Uganda PMI dropped to 54.2 in September 2024, down from 56.3 in the previous month. Still, the latest reading signaled a continued improvement in the overall health of the Ugandan private sector. Both output and new orders expanded for the sixth month, supported by strong client demand, successful advertising campaigns, and new customer wins. Job creation was also extended to a year and a half, allowing firms to resume the depletion of backlogs of work. Moreover, businesses stepped up their purchases and inventory stocks, amid another improvement in vendor performance. On the price front, overall input costs rose further in September, primarily driven by higher purchase prices. Selling prices also increased. Lastly, businesses maintained an optimistic outlook for output over the coming year, buoyed by planned investment in new products and greater advertising.
2024-10-03
Uganda Private Sector Growth Strongest in Over a Year
The Stanbic Bank Uganda PMI rose to 56.3 in August 2024, up from 53.7 in July, marking the fifth consecutive month of expansion and the strongest growth since June 2023. New orders grew for the fifth consecutive month, buoyed by new client acquisitions and strong demand conditions. Subsequently, output expanded further, with growth seen across all five sectors. Additionally, employment increased for the seventeenth month in a row. However, pressure on capacity built up as backlogs of work rose for the first time in eight months. Cost burdens continued to rise amid hikes in both purchase prices and wage bills. Meanwhile, selling prices fell for the first time in nearly 1-½ years as companies sought to remain competitive. Despite the uptick in cost burdens, companies increased their input buying, as supplier delivery times were shortened again. Finally, firms remained upbeat about the outlook for output on hopes of further increases in new orders and planned investment in advertising.
2024-09-04