The Stanbic Bank Uganda PMI was down to 48.2 in July 2022 from 50.9 in the prior month, signaling the first contraction in private sector activity since July last year. Output shrank amid surging inflation while new orders dropped for the first time in a year with firms reporting that price rises and a lack of money in the economy had dampened demand. Firms also scaled back their employment, and purchasing activity decreased following a nine-month sequence of expansion. Delivery times lengthened for the first time in a year, due to scarcity of fuel and materials plus higher transport costs. Regarding inflation, input cost went up further, widely linked to higher fuel and transport costs as well as rising prices for utilities and a range of raw materials. In response, firms continued to increase their selling prices. Lastly, sentiment stayed upbeat, on hopes that inflationary pressures will soften. source: Markit Economics
Composite PMI in Uganda averaged 52.55 points from 2016 until 2022, 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 August of 2022.
Composite PMI in Uganda is expected to be 53.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Uganda Composite PMI is projected to trend around 56.00 points in 2023 and 58.00 points in 2024, according to our econometric models.