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.