The Stanbic Bank Uganda PMI decreased to 57.7 in December 2019 from 58.6 in the prior month. The latest reading was above average since the series began June 2016. New orders, output rose for the thirty-fifth successive month. Also, purchasing activity also rose for the 22nd successive month amid higher new orders, with inventories also expanding. On the price front, input costs went up amid increases in purchases prices, staff cost and utility rates; and output prices rose accordingly. Lastly, business sentiment remained positive, with four-fifth of respondents predicting a rise over the coming year.

Composite Pmi in Uganda is expected to be 56.80 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 54.80 in 12 months time. In the long-term, the Uganda Composite Pmi is projected to trend around 56.00 in 2020, according to our econometric models.


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Uganda Composite Pmi

Actual Previous Highest Lowest Dates Unit Frequency
57.70 58.60 58.60 47.70 2016 - 2019 points Monthly
SA

News Stream
2019-12-04
Uganda Private PMI Highest on Record
The Stanbic Bank Uganda PMI increased to 58.6 in November 2019 from 56.3 in the prior month. The latest reading pointed to the fastest expansion in the country's private sector since the series began in June 2016, amid further increase in new orders, output and employment. Purchasing activity also rose for the 21st successive month amid higher new orders, with inventories also expanding. On the price front, input costs went up amid increases in purchases prices, staff cost and utility rates including electricity; and output prices rose accordingly. Lastly, business sentiment remained positive in line with opening of new branches.

2019-11-05
Ugandan Private Sector Growth Quickens in October
The Stanbic Bank Uganda PMI increased to 56.3 in October 2019 from 55.7 in the prior month. The latest reading pointed to the 33nd straight month of expansion in the private sector. Both output and new orders continued to increase and employment grew further. Purchasing activity increased for the twentieth successive month amid higher new orders, with inventories also expanding. On the price front, input costs rose amid increases in purchases prices, staff cost and utility rates; and output prices rose accordingly. Lastly, business sentiment remained positive in line with improving client demand.

2019-10-03
Ugandan Private Sector Growth Eases to 5-Month Low
The Stanbic Bank Uganda PMI went down to 55.7 in September 2019 from 57.5 in the prior month. The latest reading pointed to the 32nd straight month of expansion in the private sector, but at the lowest pace since April. Both output and new orders continued to increase and employment grew further. Also, purchasing activity continued to rise, extending the current sequence of expansion to 19 months. On the price front, overall input costs rose amid increases in electricity cost and purchased items including cement, food products and stationery; and output prices rose accordingly. Lastly, business sentiment remained positive in line with improving client demand and business expansion plans.

2019-09-04
Ugandan Private Sector Growth Eases in August
The Stanbic Bank Uganda PMI went down to 57.5 in August 2019 from 58.2 in the prior month. The reading pointed to 31st straight month of expansion in the private sector, as both output and new orders continued to increase and employment grew further. Also, firms increased their purchasing activity. Reflecting this, stocks of purchases also increased, extending the current period of accumulation to five months. In terms of prices, overall input costs rose, mainly due to increases in staff costs, electricity, fuel and water. Accordingly, companies raised their output prices. Lastly, the business sentiment remained positive in line with improving client demand and business expansion plans.

2019-08-05
Ugandan Private Sector Growth Hits Record High
The Stanbic Bank Uganda PMI rose to 58.2 in July 2019, the highest since the series began in June 2016, from 57.8 in the prior month. The reading pointed to 30th straight month of expansion in the private sector, as both output and new orders continued to increase and employment growth accelerated. Also, firms increased their purchasing activity in line with improving client demand, feeding through to an increase in inventories. In terms of prices, overall input costs rose, mainly due to increases in staff costs and electricity bills. Accordingly, companies raised their output prices. Finally, the business sentiment remained positive, on plans to expand business operations and predictions of higher new orders supported by ongoing advertising efforts.

2019-07-03
Ugandan Private Sector Growth Hits Record High
The Stanbic Bank Uganda PMI rose to 57.8 in June 2019, the highest since the series began in June 2016, from 57.3 in the prior month. The reading pointed to 29th straight month of expansion in the private sector and at the fastest pace since the series began in June 2016, as both output and new orders continued to rise and employment growth accelerated. Also, firms increased their purchasing activity at the end of the second quarter, and stocks of purchases also went up. In terms of prices, overall input costs rose, mainly due to increases in electricity and water, alongside further rises in staff costs. Accordingly, companies raised their output prices. Finally, the business sentiment was positive, amid prospects of further improvements in demand and business expansion plans.


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.

Uganda Business Last Previous Highest Lowest Unit
Business Confidence 56.30 56.66 62.59 51.92 points [+]
Leading Economic Index 0.53 0.49 2.16 -1.65 percent [+]
Internet Speed 2353.31 2515.97 2515.97 104.48 KBps [+]
IP Addresses 20690.00 19366.00 22382.00 1926.00 IP [+]
Ease of Doing Business 116.00 127.00 135.00 106.00 [+]
Corruption Index 28.00 26.00 29.00 19.00 Points [+]
Corruption Rank 137.00 149.00 151.00 43.00 [+]
Changes In Inventories 724.40 663.70 724.40 365.40 UGX billion [+]
Competitiveness Index 48.94 46.80 48.94 3.33 Points [+]
Competitiveness Rank 115.00 117.00 129.00 108.00 [+]
Composite Pmi 57.70 58.60 58.60 47.70 points [+]