Uganda Composite PMI

Last Release

Jul 31, 2024

Actual

53.7

Units In

Points

51.9

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
58.8 Jan 2020	21.6 Apr 2020	52.62 Points	2016-2024	Markit Economics

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.

Latest Updates

The Stanbic Bank Uganda PMI fell to 52.9 in October 2024, down from 54.2 in the previous month. Despite the decline, the latest reading indicated a sustained expansion in the Ugandan private sector, marking the seventh consecutive month of growth. Businesses increased their output again in October as new orders continued to rise, with demand conditions remaining buoyant. This led firms to hire additional staff despite back-to-back depletions in backlogs of work. Firms also expanded their input purchases. Meanwhile, cost inflation rose in October, fueled by higher wage bills and purchase prices. Higher costs were largely passed through to customers, as selling prices increased again. Looking ahead, business confidence remained positive amid planned advertising spending and hopes of positive demand trends.