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.

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Uganda Composite PMI



Related Last Previous Unit Reference
Composite PMI 48.20 50.90 points Jul 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
48.20 50.90 58.80 21.60 2016 - 2022 points Monthly
SA

News Stream
Ugandan Private Sector Shrinks for 1st Time in Year
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.
2022-08-03
Uganda Private Sector Growth Eases to 10-Month Low
The Stanbic Bank Uganda PMI declined to 50.9 in June of 2022 from May's of 51.5, signalling a 11th consecutive monthly expansion. The latest figure also marked the weakest expansion in the private sector since August 2021 and below the series average, amid reports that employment decreased for the first time in six months, while ongoing inflationary pressures had led new business to wane. Both output and new orders continued to grow, with both the construction bucked the wider trend and posted declines. Meanwhile, purchasing activity rose, as new orders expanded, alongside improved supplier performance for the 11th consecutive month. On the price front, input prices rose, due to rises in prices of electricity, fuel, and water, food products, and wages. In response, firms raised their output charges for the tenth in as many months. Finally, business sentiment improved.
2022-07-05
Uganda Private Sector Growth Eases to 5-Month Low
The Stanbic Bank Uganda PMI declined to 51.5 in May of 2022 from April's of 53.9, signalling a tenth consecutive monthly expansion. The latest figure also marked the weakest expansion in the private sector since last December, amid reports that prices pressures had acted to limit demand. Both output and new orders continued to grow, with output increasing in the industry, services and wholesale & retail sectors, but declining in agriculture and construction. Meanwhile, both employment and purchasing activity rose, as new orders expanded, alongside improved supplier performance. On the price front, input prices accelerated, due to rises in prices of fuel, raw material, and wages. In response, firms raised their output charges for the ninth in as many months. Finally, business sentiment remained positive on predictions of new order growth and hopes for an alleviation of price pressures.
2022-06-06