The Stanbic Bank Uganda PMI plunged to 21.6 in April 2020 from 45.3 in the prior month. It was the second straight month of contraction in the sector and the lowest reading since the survey began in June 2016, as both output and new orders declined further, due to the impact of COVID-19 pandemic. With output requirements down, companies looked to scale back employment and purchasing activity, in each case for the second month running. Meantime, supply chains remained under pressure, with manufacturers noting restrictions relating to the coronavirus pandemic had impacted raw material availability. On the price front, both input costs and selling prices fell for the first time in the survey's history, amid a lack of demand. Lastly, business sentiment turned negative for the first time amid concerns over how long the impacts of the pandemic will last.
Composite Pmi in Uganda averaged 53.36 points from 2016 until 2020, 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. Uganda Composite Pmi - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Markit Economics
Composite Pmi in Uganda is expected to be 25.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in Uganda to stand at 54.00 in 12 months time. In the long-term, the Uganda Composite Pmi is projected to trend around 55.00 points in 2021 and 56.60 points in 2022, according to our econometric models.